Africa Bonds
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10 October 2012 – Australian Islamic wealth manager Crescent Wealth today announced it has partnered with the Bank of London and The Middle East (BLME), the largest Islamic bank in Europe, in a deal that gives Australian retail investors exposure to the growing Islamic bonds market for the first time. Following the partnership, investors in the Crescent Islamic Cash Management Fund will be able to gain exposure to the US$150 billion + global market for Sharia’a-compliant bonds or ‘Sukuk’. Sukuk generate ethical returns backed by real assets. The portfolio will be managed by BLME, a leading global provider of Sharia’a-compliant fixed income product.
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Please find the below short commentary from Jason Kabel, Head of Fixed Income at Bank of London and The Middle East:
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Source: The Edge Communications Sdn Bhd
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Source: Al Bawaba Bursa Malaysia has introduced rules to facilitate Exchange Traded Bonds and Sukuk (ETBS) to be listed, and traded on Bursa Securities. This marks the first step towards providing wider access for this asset class to Bursa Malaysia’s investors.
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Dubai/Hong Kong: Leading international law firm Clifford Chance has advised Bank of America Merrill Lynch, CIMB and HSBC as joint lead managers on Axiata Group Berhad's RMB1 billion sukuk issuance. The sukuk is the largest RMB-denominated sukuk and the second sukuk to date to be issued in the dim sum bond market. The sukuk is listed on Bursa Malaysia Securities Berhad (under the Exempt Regime) and the Singapore Stock Exchange.
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Manama, Bahrain – 24 September 2012 – The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities for the BD 18 million issue, which carries a maturity of 91 days, has been oversubscribed by 248%.