Malaysia’s two biggest banks are predicting a pick-up in the country’s Islamic bond (sukuk) sales as companies try to refinance debts before the Federal Reserve (Fed) raises interest rates. Forecasts that the Fed will keep interest rates lower for longer have given local businesses a bigger window to refinance, according to Malayan Banking Bhd and …
Sukuk
Country Garden Sets The Stage For First Chinese Sukuk
Asian issuers have been tapping the Islamic market for funding with increasing frequency in recent years, but most of that issuance has been concentrated in southeast Asia, or more specifically Malaysia and Indonesia. These two countries made up close to 96% of all sukuk issuance in Asia ex-Japan since 2010, according to Dealogic, although their …
Country Garden Sets The Stage For First Chinese SukukRead More
Saudi’s Othaim Malls Targets Up To 1 bln Riyal Debut Sukuk Issue
Saudi Arabia’s Al Othaim Real Estate and Investment Co, owner of five shopping malls in the kingdom, is marketing a five-year debut sukuk issue which could raise up to 1 billion riyals ($267 million) for the company, four sources aware of the matter said. The firm, also known as Othaim Malls, is part of Al …
Saudi’s Othaim Malls Targets Up To 1 bln Riyal Debut Sukuk IssueRead More
Toyota, Aeon To Issue New Sukuk In Malaysia
Car maker Toyota and financial service firm Aeon Credit are the two Japanese companies that plan to raise sizeable fresh Shariah-compliant funds through their Malaysian branches this year. The Malaysian unit of Toyota Motor Corp said it plans to set up a 2.5bn-ringgit ($655mn) programme through its local financing arm Toyota Capital Malaysia in order …
Tunisian Firms Prepare To Issue Islamic Bonds
Tunisian firms are preparing to issue Islamic bonds as the government finalises rules covering the sector, creating a new funding option for companies in an economy buffeted by labour unrest and militant attacks. Islamic finance – which bars interest payments in accordance with Islamic, or sharia, law – accounts for just 2.5 percent of Tunisia’s financial …
Global Experts To Discuss The Future Of The Green Bond And Sukuk Sector At The GEFF
The Green bond and sukuk sector grew by 50% compound annual growth rate according to the Climate Bonds Initiative Dubai: The Global Ethical Finance Forum (GEFF) to be held in Edinburgh on the 1st and 2nd of September will feature the first global conversation of experts on the nascent yet rapidly growing green bond and …
Global Experts To Discuss The Future Of The Green Bond And Sukuk Sector At The GEFFRead More
Malaysia: RM38bil In Sukuk Planned For This Year
PETALING JAYA: Malaysia has more than RM38bil of sukuk issuances in the pipeline dominated by the private sector. Data recently compiled and updated by Reuters showed that Tenaga Nasional Bhd has hired three banks to help raise up to RM9.5bil through a sukuk issue. It is raising the amount to develop a greenfield power plant it …
Demand Grows For Islamic Finance Body IILM Sukuk
Demand for Islamic bonds issued by the International Islamic Liquidity Management Corp (IILM) is growing, signaling widening popularity for a programme designed as a cross-border tool for Islamic banks to manage their liquidity needs. The Kuala Lumpur-based body is a likely beneficiary of a decision by Malaysia’s central bank to wind down its own sales …
Sukuk To Boost GCC-Africa Trade
Gulf firms interested in agriculture, infrastructure and finance in Sub Saharan Africa. Islamic bonds can play a major role in facilitating trade and investment ties between Gulf Arab states and Sub-Saharan Africa economies, according to a new report. A number of African countries have opted to issue sukuk as an alternative mechanism to raise funds …
U.K. Backing for Sukuk Just After Starting With UAE Deal
Bloomberg, Britain is raising its commitment to expanding its role in the flourishing global industry for Islamic finance. U.K. Export Finance, the UK’s export-credit body that is backing a proposed sale of Islamic bonds by Emirates airline, plans to increase guarantees to other industries, stated by Hugo Swire, minister of state. UAE is planning to …
U.K. Backing for Sukuk Just After Starting With UAE DealRead More
Treet Corporation Pakistan Announces Rs539 Million Capital-Boosting Everlasting Sukuk
KARACHI: Treet Corporation Limited, a company that specialises in manufacturing good quality razors, has planned to issue capital-boosting Sukuk bonds with a perpetual tenor, the spokesman said on Thursday. In its first entry in the Islamic debt capital market, the company plans to raise Rs.539 million in the form of perpetual and convertible instruments of …
Treet Corporation Pakistan Announces Rs539 Million Capital-Boosting Everlasting SukukRead More
BIBF To Start First Islamic Finance Course
MANAMA, The first training course on the convergence of Islamic capital and halal food and Muslim lifestyle sectors will be available in Bahrain from May 2015. Being presented by the Bahrain Institute of Banking and Finance (BIBF) through a partnership with Dinar Standard, a New York based growth strategy research and advisory firm, it has been …
