Wednesday 28 September 2016
 
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sukuk

Islamic finance growth seen robust despite low sukuk

New sukuk issuance continues to remain subdued in 2016, but growth prospects for the Islamic finance sector are still strong, says Moody's Investors Service in a report published today (September 21). "Growth in the Islam

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Slowdown in Islamic finance likely to continue: S&P

The drop in Islamic finance growth is likely to continue in 2017, said S&P Global Ratings, estimating that the industry's total assets will reach $2.1 trillion at year-end 2016. "We think two factors will act as a bra

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Emirates Islamic closes $250m tap of sukuk issuance

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has successfully closed a $250 million tap of its earlier $750 million five-year sukuk issued in May 2016. This is under the bank’s $2.5 billion

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Qatar sells $1.26bn in bonds, sukuk

Qatar's central bank sold SR4.6 billion ($1.26 billion) of conventional and Islamic government bonds on Tuesday in its first domestic government bond offer this year, a central bank official told Reuters on Wednesday. The cent

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IPO issuance in GCC halves over market flux

The number of Initial Public Offerings (IPOs) in the region diminished by half in the second quarter (Q2) of the year compared to the same period in 2015 as uncertainty and volatile market conditions weighed on investors and issuers, said indust

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Saudi Binladin makes delayed payment on $266m sukuk

Contracting giant Saudi Binladin Group (SBG) has repaid a SR1 billion ($266.7 million) Islamic bond that matured in late June, a sign of modestly easing pressure on the embattled firm, banking sources told Reuters on Thursday. The

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Kuwait plans $9.95bn sukuk to cover deficit

Kuwait plans to issue up to KD3 billion ($9.95 billion) in US dollar-denominated bonds and sukuk in international markets to help plug its budget deficit for the current 2016-17 fiscal year, the finance minister said on Sunday. It

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Oman sells $500m six-year sukuk

Oman's government has sold a $500 million six-year sukuk in a private placement, a document from the lead manager showed on Wednesday. The sukuk's profit rate is 3.5 per cent and the Ijara-structured instrument will be rep

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Oman plans $2.5bn sukuk to plug budget gap

Oman's ministry of finance said on Saturday it had commissioned five international banks to arrange the issue of two dollar-denominated sukuk totaling $2.5 billion to help plug a budget deficit. The bonds will consist of a $1

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Sipchem completes $266m five-year sukuk issue

Saudi International Petrochemical Co (Sipchem) has completed a SAR1 billion ($266.6 million) sukuk, it said on Thursday. The five-year issue was priced at 235 basis points over the six-month Saudi Arabia Interbank Offered Rate (SA

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