Tamweel reviving Islamic RMBS sector it pioneered

Tamweel is to revive the Shariah-compliant RMBS sector that it pioneered back in 2007. Owned by Dubai Islamic Bank, the housing financier will issue a US dollar-denominated sukuk backed by cashflows from residential Ijara contracts — Islamic home finance’s lease-to-buy arrangements.

  • 22 Jun 2012

A series of investor meetings arranged by Abu Dhabi Commercial Bank, Emirates NBD and UBS started on Tuesday. They span the Middle East, Asia and Europe.

Moody’s, which found that "conventional methods of RMBS analysis are still wholly applicable", has provisionally rated the $235m of floating rate certificates ...

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2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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5 Credit Suisse 69,442.99 183 6.57%