The Halal Times
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Though it has looked like last year’s recession scare was a false alarm, the global Sukuk market is close to sending another signal about a slump. The noxious mix of the new coronavirus, low oil prices, and waning investor appetite are expected to hurt Sukuk issuance in 2020 from core Islamic finance markets that include …
KUALA LUMPUR (April 20): Malaysia’s Public Sector Home Financing Board had today issued up to RM3.25 billion worth of Islamic bonds or sukuk to finance the provision of housing loans to the public sector employees. The board is also known as Lembaga Pembiayaan Perumahan Sektor Awam (LPPSA), a statutory body under the public sector Home …
(Bloomberg) — Bahrain’s Al Baraka Banking Group BSC picked seven banks, including Credit Agricole SA and Standard Chartered Plc, to help arrange the international sale of Islamic bonds, people with knowledge of the matter said. The Islamic bank also hired Emirates NBD PJSC, Dubai Islamic Bank PJSC, Noor Bank PJSC, QInvest LLC and Kuwait Finance …
Saudi Arabia-headquartered real estate developer, Dar Al-Arkan, has listed a $500m sukuk on Nasdaq Dubai. The listing, which forms part of Dar Al-Arkan’s strategy to strengthen access to capital markets, brings the company’s listed total on the exchange to $1.35bn. It follows two Nasdaq Dubai listings from Dar Al-Arkan in May 2014, which totalled $850m. …
Dubai: Gulf Navigation said on Thursday its shareholders approved to issue a senior and unsecured sukuk of $250 million (Dh918 million). The sukuk would be for a period of five years, and should be with a profit rate of below 10 per cent, Gulf Navigation said in a statement posted on Dubai Financial Market’s website. …
KUALA LUMPUR: Sime Darby Bhd has launched a cash offer to repurchase its unit Sime Darby Global Bhd’s outstanding sukuk totalling US$800mil (RM3.53bil) due next year and in 2023. The conglomerate is also seeking consent to substitute Sime Darby Plantation Sdn Bhd as the obligor (the issuer contractually bound to make principal repayments and interest …
Kuala Lumpur:- Malaysia is leading in issuance of Sukuk bonds with a ratio of 1:1 as compared to conventional bonds. Assistant Vice Chancellor, University of Utara Malaysia (UUM), Dr Yusnida Ibraheem said this in her keynote address at a two-day moot on Research, Economics and Social Sciences at IMS Executive Hall of BZU here Monday. …
Classification guidelines for Sukuk issued by Islamic financial institutions, if implemented, represents a boost for proponents of standardisation. In our view, this–coupled with AAOIFI’s recent proposal on centralised Shari’ah boards–could help the market move forward with standardising the legal structure of Sukuk and Shari’ah interpretation. In the recent past, we’ve observed some ambiguity in how …
(MENAFN – Gulf Times) #SaudiArabia raised 9bn in its first dollar-denominated Islamic bond sale, 1bn more than what the government was said to be planning to issue initially. The government sold a 4.5bn five-year sukuk tranche at 100 basis points over the mid-swap rate and an equally-sized 10-year tranche at a spread of 140 basis …
JAKARTA, NETRALNEWS.COM – Total bond and sharia bond (sukuk) issuance value on Indonesia Stock Exchange (IDX) has reached IDR27.49 trillion from 15 bonds issued by 14 issuers as of April, 2017. The latest bond listed on IDX on Wednesday (4/12) was the second phase second sustainable bond issuance 2017 by state-owned banking company Bank Rakyat …
Deputy Minister of Finance for Treasury Affairs Mohamed Moiet said that the government intends to offer international bonds worth $3-4bn in the coming fiscal year. In January, the government offered a package of international bonds worth $4bn on the Luxembourg Stock Exchange with different maturity periods of 5, 10, and 30 years. Moiet told Daily …
Oman hired banks including Citigroup Inc, JPMorgan Chase & Co, HSBC Holdings Plc and Standard Chartered Plc to help arrange an international sale of Islamic bonds, according to two people with knowledge of the matter. The country also mandated Dubai Islamic Bank and Alizz Islamic Bank, and may add more institutions for the dollar-denominated sukuk …
