NEWS in BRIEF
IsDB Board Approves US$176.05m of Development Finance in Four Member Countries in June 2021 Jeddah – The Board of Executive Directors of the Islamic Development Bank (IsDB) at its 341st…
Saudi NDMC Issues Sixth Consecutive Monthly Domestic Sukuk in June as Total for First Half 2021 Tops Record SAR34,141.065m (US$11,301.39m)
The National Debt Management Centre (NDMC) of the Saudi Ministry of Finance (MoF) issued its sixth consecutive monthly issuance of Riyal-denominated sovereign Sukuk with a three-tranche SAR8.265 billion (US2.20 billion)…
DIB Raises US$1bn Through Second International Sukuk in 2021 With the Lowest Ever Pricing Achieved by the Bank on Any of its Previous Sukuk Issuances
Dubai Islamic Bank (DIB), one of the largest banks in the UAE in terms of assets under management following its merger with Noor Bank last year, successfully priced its second…
Turkey Returns to International Market with US$2.5bn Sukuk Al Ijarah as IMF Latest Article IV Consultation Commends “Exceptional” Turkish Economic Recovery Albeit Several Vulnerabilities Remain
The Turkish Ministry of Treasury & Finance continues to raise funds from the international markets through Sukuk issuances as part of its active but diversified public funding and debt strategy.…
Oman Returns to International Sukuk Market with Benchmark US$1.75bn Sukuk Issuance After an Absence of Almost Three Years as Market Share of Islamic Finance Assets Continue to Rise
The Government of Oman returned to the international market on 15 June 2021 with a Reg S Rule 144A US$1.75 billion Sukuk issuance. The unsubordinated fixed-rate Trust Certificates have a…
KFH’s Maiden Benchmark US$750m Sukuk Mudaraba Finally Marks Entry of Industry Pioneer as June 2021 Sees Major Developments in the International Sukuk Market
Kuwait Finance House (KFH), one of the oldest commercial Islamic banks in the world, issued its debut Sukuk – a 5.5 year Perpetual non-callable benchmark US$750 million ATI Mudaraba Sukuk…
Saudi Aramco’s Debut US$6bn International Sukuk in June 2021 a Major Boost for Investors as Offering Attracts Largest Ever Order Book in Sukuk Issuance History
As the world’s largest integrated oil and gas company, the Saudi Arabian Oil Company (Saudi Aramco) does not do fixed-income issuances in modest measures. On 17 June 2021, the company…