NEWS in BRIEF
Bank Consortium Arranges US$2bn Debut Hybrid Murabaha/Conventional Financing Facility for EgyptDubai – A consortium of banks have arranged a US$2 billion hybrid Conventional and Islamic Syndicated Term Facility for the…
Robust Investor Demand for Masraf Al Rayan’s Benchmark US$750m Sukuk Issuance
Masraf Al Rayan, the second largest Islamic bank in Qatar in terms of assets, successfully closed its latest Sukuk issuance in August 2020 – a benchmark fixed rate Regulation S…
Turkish Treasury Raises US$7.82bn Through Domestic and International Sukuk Al Ijarah Issuances from January to August 2020
The Turkish Treasury & Finance Ministry, beleaguered by the country’s deteriorating fiscal and macro-economic fundamentals on the back of the impact of COVID-19, continued to tap the domestic Sukuk and…
Malaysia’s Innovative ‘People’s’ Sukuk Prihatin Aims to Connect Citizens Contribution to COVID-19 Economic Recovery
It is unusual for a sovereign issuer to issue debt papers in the name of patriotism and nationalism. But then the COVID-19 pandemic has unleashed unusual circumstances and demands on…
Government of Dubai Returns to International Sukuk Market with a US$1bn COVID-19 Mitigation Issuance
The twin effects of the COVID-19 pandemic and the sharp decline in crude oil prices has impacted the fiscal and growth challenges in the Gulf Cooperation Council (GCC) countries. The…
NEWS in BRIEF
KIB Signs US$150m Bilateral Murabaha Facility Agreement with EQUATE Petrochemical Company Kuwait City – Kuwait International Bank (KIB), formerly the Kuwait Real Estate Bank, signed a US$150 million bilateral Murabaha…
SABB Issues SAR5bn Tier II Sukuk as Kingdom’s Independent Securities Clearing Centre Company (Muqassa) Gears to Start Operations at end August 2020
The Saudi British Bank (SABB) is the latest Saudi bank to raise funds from the market through a Sukuk issuance. SABB, in a disclosure to the Saudi Stock Exchange (Tadawul),…
Saudi Government Raises SAR35.65bn (US$9.5bn) via new Issuance and Refinancing in July 2020 Through Six Sukuk Istithmar Tranches Under Two Separate Issuance Programmes
Saudi Arabia’s reliance on domestic sovereign Sukuk issuance as part of its public debt strategy increased sharply with The National Debt Management Center (NDMC) of the Ministry of Finance (MoF)…
Securities Commission Malaysia Consults on Digital Asset Wallet Framework as it’s Shariah Advisory Council in a Landmark Resolution Approves Trading of Digital Assets
The rapid evolution of FinTech is forcing regulators to keep up with developments so that they and their constituents – corporate and retail customers – do not get left behind…
Public Debt Sukuk Issuances Hold Key to Market Growth in COVID-19 Affected 2020 as Primary Sukuk Issuances Reached a Record US$146bn in 2019
While the year 2019 was a record year for primary Sukuk issuance, the year 2020 seems to be cautiously holding its own despite the economic and health impact of COVID-19…
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