Africa Bonds
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Manama, Bahrain - 26 December 2011 - The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities for the BD18 million issue, which carries a maturity of 91 days, has been subscribed by 183%.
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The Gulf Bond and Sukuk Association (GBSA) this week released what it claimed was the first detailed compendium of the nascent markets for local currency government-issued instruments in the Gulf region.
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Fitch said it has withdrawn the expected B+ rating it previously assigned to the proposed sukuk of Turkish participation bank issuer Bank Asya . This follows the bank's decision to put the sale on hold because of the market environment. Asya had been looking to issue a sukuk of up to $300m. The bank said on Thursday, October 20 that it had mandated UBS and Citi for meetings with investors for a potential five year dollar sukuk, but underlying markets in Europe have progressively worsened since. This week core treasuries hit new record wides and even Germany's 10 year auction was deemed a failure by many traders.
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Manama, Bahrain - 28 November 2011 - 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 subscribed by 100%.
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Manama, Bahrain -15 November 2011 - The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, has been oversubscribed by 135%.
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in the GCC Financial Markets :LTIT Although the GCC financial markets have generally seen a gradual consolidation of their recovery after the turbulence of the spring, they continue to be characterized by a paradox. In the words of Chief Economist Dr Jarmo Kotilaine of the National Commercial Bank : "At a time when economic growth in the region is accelerating, the performance of most market segments is uneven at best and typically marked by considerable intra-regional variation. While the subdued mood is partly due to country-specific factors, the markets have been above all hit by the intense global uncertainty." This state of affairs highlights the reality that the economic recovery in the Gulf still continues to be heavily linked to the strength of the hydrocarbons sector and to increased public sector spending.
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Although the GCC financial markets have generally seen a gradual consolidation of their recovery after the turbulence of the spring, they continue to be characterized by a paradox. In the words of Chief Economist Dr Jarmo Kotilaine of the National Commercial Bank : "At a time when economic growth in the region is accelerating, the performance of most market segments is uneven at best and typically marked by considerable intra-regional variation. While the subdued mood is partly due to country-specific factors, the markets have been above all hit by the intense global uncertainty." This state of affairs highlights the reality that the economic recovery in the Gulf still continues to be heavily linked to the strength of the hydrocarbons sector and to increased public sector spending.
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Manama, Bahrain - 24 October 2011 - 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 250%.
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Manama, Bahrain -18 October 2011 - The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, has been oversubscribed by 207.5%.
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Source: Access-Hungary Kft.Hungary around the clock