Most recent/Bond comments/Ad
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The country's curve has rallied since the US and Iran agreed on a peace MoU
Most of the demand came from local investors, as one banker expected
Price was 'way off' fair value, according to a source on the deal
Rare borrowers Burjeel Holdings and Avilease also marketing deals
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Islamic bankers and Gulf investors have welcomed the Saudi Arabian financial regulator’s announcement this week that its stock market will be opened to international investors. But while some are more bullish than others in thinking this could happen quickly for secondary trading, extending access to primary markets and other riyal-denominated asset classes such as bonds and sukuk looks likely to be a longer term project.
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After years of isolation from Islamic banking, India’s central bank, the Reserve Bank of India, has created an internal committee to review the country’s Islamic banking regulations.
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The fallout from the US sanctions on Russia has spread to wider emerging markets this week, reports GlobalCapital, as some banks have started insisting on the inclusion of sanctions language in the documentation for new loans for companies outside of eastern Europe.
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Tunisia launched a $500m seven year bond this week with a full guarantee from USAID, as part of US efforts to help the country through its transition to a new democratically elected government.
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Saudi Arabian firm Umm Al-Qura Cement Co has signed its first ever Shariah-compliant financing facility, a SR618.8m ($165m) three year deal with Saudi British Bank. -
Islamic bankers don’t need new excuses to travel to the world’s sunnier climes, but meetings in Mauritius next to its pristine coral sand beaches could soon become a feature of the market – and not just for obvious reasons.
