Industry Mourns the Passing of Islamic Banking Pioneer Hajj Saeed bin Ahmed Al Lootah, Founder of Dubai Islamic Bank, the Oldest Islamic Commercial Bank, at the Age of 97

The Islamic finance industry lost another of its contemporary pioneers, Hajj Saeed bin Ahmed Al Lootah, the founder and Chairman for many years of Dubai Islamic Bank (DIB), the oldest…

Continue ReadingIndustry Mourns the Passing of Islamic Banking Pioneer Hajj Saeed bin Ahmed Al Lootah, Founder of Dubai Islamic Bank, the Oldest Islamic Commercial Bank, at the Age of 97

DP World Upsizes Latest Perpetual Sukuk Mudaraba Issuance to US$1.5bn Following Robust Demand from International Investors

DP World, the Dubai-based global port operator and logistics group, launched its latest Sukuk offering on 24 June 2020 – a U.S.$1.5 billion Reset Subordinated Perpetual Certificates issuance.The Sukuk Mudaraba…

Continue ReadingDP World Upsizes Latest Perpetual Sukuk Mudaraba Issuance to US$1.5bn Following Robust Demand from International Investors

Saudi Sovereign Domestic Sukuk Issuance Reaches US$12.42bn in First Half 2020 as NDMC raises US$2.25bn in June with a Three-Tranche Sukuk

Saudi Arabia’s reliance on domestic sovereign Sukuk issuance as part of its public debt strategy continued in June 2020 with The National Debt Management Center (NDMC) of the Ministry of…

Continue ReadingSaudi Sovereign Domestic Sukuk Issuance Reaches US$12.42bn in First Half 2020 as NDMC raises US$2.25bn in June with a Three-Tranche Sukuk

DIB Raises US$1.3bn Through Two Sukuk Offerings in June 2020 to Finance Customers and Clients During Covid-19 Economic Recovery Phase

It seems that issuers are seeking flight to quality and safety as sovereigns, multilaterals, banks and corporates in the Middle East, South East Asia and Africa are turning to domestic…

Continue ReadingDIB Raises US$1.3bn Through Two Sukuk Offerings in June 2020 to Finance Customers and Clients During Covid-19 Economic Recovery Phase

Indonesia Returns to Market with US$2.5bn Triple-Tranche Sukuk Wakala including a Third US$750m Global Green Sukuk

The Government of Indonesia returned to the global Sukuk market on 17 June 2020 through the issuance of a three-tranche US$2.5 billion Sukuk Wakala in the international market in 144A/…

Continue ReadingIndonesia Returns to Market with US$2.5bn Triple-Tranche Sukuk Wakala including a Third US$750m Global Green Sukuk

IsDB Issues Debut US$1.5bn Sustainability Sukuk Specifically to Fight Aftermath of Covid-19 in Member Countries

The Islamic Development Bank (IsDB), the multilateral development bank (MDB) of the OIC (Organisation of Islamic Cooperation) countries, has consolidated its financing “to tackle the aftermath of the COVID-19 pandemic…

Continue ReadingIsDB Issues Debut US$1.5bn Sustainability Sukuk Specifically to Fight Aftermath of Covid-19 in Member Countries

Islamic Banking Pioneer Sheikh Saleh Kamel Dies Leaving an Influential Legacy – Obituary written by Mushtak Parker

The death of Sheikh Saleh Abdullah Kamel, the 79-year-old Chairman of Dallah Albaraka Group (DAG), on 18 May 2020 in Jeddah sees the end of an era of one of the…

Continue ReadingIslamic Banking Pioneer Sheikh Saleh Kamel Dies Leaving an Influential Legacy – Obituary written by Mushtak Parker

Saudi NDMC Keeps Sovereign Domestic Sukuk Issuance Momentum Going in May with US$1.53bn Issuance Bringing Total Raised in January-May 2020 to US$10.13bn

The National Debt Management Center (NDMC) of the Saudi Ministry of Finance (MoF) continued its proactive domestic sovereign Sukuk issuance in May when it issued its fifth consecutive monthly Sukuk…

Continue ReadingSaudi NDMC Keeps Sovereign Domestic Sukuk Issuance Momentum Going in May with US$1.53bn Issuance Bringing Total Raised in January-May 2020 to US$10.13bn