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 …
Sukuk
Malaysia’s Public Sector Home Financing Board Issues RM3.25b Sukuk
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 …
Malaysia’s Public Sector Home Financing Board Issues RM3.25b SukukRead More
Al Baraka to Pick Credit Agricole, Emirates NBD for Sukuk
(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 …
Al Baraka to Pick Credit Agricole, Emirates NBD for SukukRead More
Dar Al-Arkan Lists $500m Sukuk on Nasdaq Dubai
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. …
Gulf Navigation Shareholders Approve $250m Sukuk Issue
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. …
Gulf Navigation Shareholders Approve $250m Sukuk IssueRead More
Sime Darby Launches Cash Offer to Buy Back Outstanding RM3.5Bil Sukuk
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 …
Sime Darby Launches Cash Offer to Buy Back Outstanding RM3.5Bil SukukRead More
Malaysia Leads in Issuance of Sukuk Bonds
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. …
Sukuk Accounting Proposal to Take Standardisation Debate to the Next Level
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 …
Sukuk Accounting Proposal to Take Standardisation Debate to the Next LevelRead More
Saudi Arabia Raises $9bn with Inaugural Islamic Bond
(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 …
Saudi Arabia Raises $9bn with Inaugural Islamic BondRead More
Bond Listing In Indonesia on IDX Touches IDR27.49 Tln as of April 2017
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 …
Bond Listing In Indonesia on IDX Touches IDR27.49 Tln as of April 2017Read More
Egypt Intends to Offer International Bonds Worth $4bn Next Fiscal Year
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 …
Egypt Intends to Offer International Bonds Worth $4bn Next Fiscal YearRead More
Oman To Mandate Citigroup, JPMorgan, HSBC For Dollar Sukuk
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 …
Oman To Mandate Citigroup, JPMorgan, HSBC For Dollar SukukRead More
