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Egypt approves law to issue Islamic bondsEgypt has approved a draft law to allow sovereign Islamic bonds (sukuk), the country's finance minister said on Wednesday, as the government searches for new ways to finance an unsustainable budget deficit. The Islamist-led ad More… |
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Qatar to issue up to $4bn in sukukQatar plans to issue up to $4 billion in Islamic bonds, or sukuk, through two companies that the Gulf state will set up through a decree issued by the Crown Prince, local daily Al Watan newspaper said on Monday. Qatar, the world's biggest More… |
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Saudi investors 'warm to Goldman sukuk'Saudi investors are warming to a sale of $2 billion of Islamic bonds by US investment bank Goldman Sachs, banking sources told Reuters, lending support to a sukuk which has run into controversy over whether it complied with Islamic principles. More… |
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Turkey's Albaraka postpones sukuk issueThe Turkish unit of Bahrain's Albaraka Banking Group said on Thursday it had postponed a planned issue of Islamic bonds, saying the yields investors expected were too high. "Because of the negative environmen More… |
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Oman may issue sukuk says cbank headOman may in future consider issuing Islamic bonds or sukuk, the country's central bank head Hamood Sangour Al-Zadjali said on Monday. Al-Zadjali was speaking at a financial forum in Kuwait. Oman opened its do More… |
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First Gulf Bank raises $650m from 5-year bondUAE lender First Gulf Bank raised $650 million from the sale of five-year Islamic bonds, or sukuk, on Tuesday, in a significantly oversubscribed deal that benefited from solid global demand for Sharia-compliant paper. The suku More… |
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Islamic bond sales seen set for revivalA recent spate of Islamic bond issues in the Gulf region is setting up the fledging sector for a strong second half of 2011, as borrowers look to benefit from attractive pricing and improving investor sentiment. The flurry of activity, inc More… |
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Sukuk market set to rebound says reportThe sukuk market may well be set to bounce back after suffering badly in the global financial downturn. The value of sukuk has jumped 61 per cent in the past year, according to a research by Trowers & Hamlins, the international law fir More… |
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Global sukuk issuance set to recover in a yearGlobal issuance of Islamic bonds will take another year to reach pre-crisis levels as new markets in Europe and Asia have yet to make up for the slump in the Gulf, said advisory firm Deloitte's head of Islamic Finance. Underwritten iss More… |
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Major sukuk push on wayInvestor worries over the impact of defaults in Islamic bonds is driving a push for a better structure for asset-backed instruments that should help alleviate concerns, bankers and lawyers said. Islamic finance industry body IIFM is lookin More… |
