Middle East Bonds

Vakifbank will apply to Turkish authorities to establish a participation bank with $300m equivalent of paid up capital and a registered capital ceiling of TL1bn ($432m), the bank announced this week.Meanwhile, rival Turkish Islamic financial Bank Asya, while responding to an official investigation of its Bursa branch, completed a capital raise and announced the sale of a stake in Tamweel Africa Holding.

Dubai Islamic Bank (DIB) has picked banks for a tier one dollar sukuk, and is preparing to kick off what debt bankers expect to be a rush of tier one issuance in conventional and Islamic format from the Middle East.

Debt bankers away from Dubai Islamic Bank’s perpetual sukuk roadshow are eying the deal as an indicator of what Middle East primary pricing will look like after the savage drop in oil prices zaps liquidity in the region.

Debt bankers away from Dubai Islamic Bank’s perpetual sukuk roadshow are eying the deal as an indicator of what Middle East primary pricing will look like after the huge drop in oil prices zaps liquidity in the region.

Dubai Islamic Bank (DIB) has picked banks for a tier one dollar sukuk, and is preparing to kick off what debt bankers expect to be a rush of tier one issuance in conventional and Islamic format from the Middle East.

Dubai Islamic Bank (DIB) has picked banks for a tier one dollar sukuk, and is preparing to kick off what debt bankers expect to be a rush of tier one issuance in conventional and Islamic format from the Middle East.

Bangladesh’s central bank has started providing regular auctions of Islamic bonds for domestic banks with Islamic operations to buy.

As the year draws to a close the international sukuk league table looks set. HSBC and Standard Chartered are safe in their traditional top spots. But the big winners this year are Middle East and Malaysian banks, who have fought their way up the sukuk league table at the expense of Western competitors

The Sultanate of Oman has picked banks for a local currency sukuk debut, as the country’s Capital Markets Authority awaits feedback on draft legislation for Islamic bond issuance.

The Sultanate of Oman has picked banks for a local currency sukuk debut, as the country’s Capital Markets Authority awaits feedback on draft legislation for Islamic bond issuance.

Makram Abboud is VTB Capital's chief executive officer, Middle East and Africa and vice-chairman, international. Dan Alderson spoke to him about how the bank is carving out its niche in these regions, which have become a focus for Western banks with the shut out of the Russian loan market in 2014. Abboud also discussed challenges and opportunities in the year ahead and the prospect of VTB issuing its first sukuk.

The Sultanate of Oman has picked banks for a local currency sukuk debut, as the country’s Capital Markets Authority awaits feedback on draft legislation for Islamic bond issuance.