Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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Gulf investors 'will now look at every deal', whether sukuk or not
Demand from the Middle East for the sukuk was steady
Bond pricing for the mining company started about 43bp back of its parent
Sovereign wealth fund takes $2bn, as aimed at
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Islamic finance practitioners grappled with the question of how to open the US market to sukuk issuance and Islamic finance during a panel discussion at Euromoney’s Islamic Finance and Investment conference in London this week. -
Tabreed, a United Arab Emirates utility company, has appointed Steve Ridlington as its new chief executive.
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The Bahrain based International Islamic Financial Market (IIFM) unveiled a new master collateralised murabaha agreement (MCMA) at a workshop in London this week. The framework is designed to offer Islamic entities a standard structure for raising low cost funding using idle Shariah compliant assets as collateral.
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The first round of oil price driven rating actions hit the Middle East this week, with Standard & Poor’s taking its knife to Bahrain and Oman and putting Saudi Arabia on negative outlook. The countries’ respective sukuk seemed safe from secondary volatility, although Bahraini paper — now on the cusp of junk — is likely to feel some pressure, said investors.
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RAM Ratings has assigned ratings to Abu Dhabi Islamic Bank’s (ADIB) planned senior and subordinated sukuk.
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The Turkish deposit insurance fund’s takeover of Bank Asya’s senior management positions has had only a minor impact on the rest of the country’s participation banks, analysts told IFIS. Even if the government does find a way to completely take over the troubled participation bank, a weakening currency and higher dollar interest rates are a far bigger issue for Turkey’s Islamic lenders than more state-owned competitors.
