Most recent/Bond comments/Ad
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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Musharaka is the Arabic word for sharing, or participation. Within the Islamic finance sector it means an equity participation. This is defined as a partnership in which partners invest capital and effort to support their business. A partner is referred to as a musharik.
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Morocco plans to finalise its Islamic banking bill by September, after presenting an overdue draft law to the lower house of its parliament on Wednesday.
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Saudi Arabian energy and telecoms transmission manufacturer Al-Babtain has signed a SR200m ($53.3m) Shariah-compliant financing facility with Saudi Hollandi Bank.
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Turkish Halkbank has released price guidance for a five year senior unsecured bond that equates to a new issue premium of 5bp-10bp, according to a lead manager on the deal.
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The Dubai Financial Services Authority has weighed into the long-running industry debate over whether national or company Shariah boards are the way forward for Islamic finance, by recommending a combined approach.
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Dubai should push on with its plan to create a central Shariah board. Although the emirate has made good progress in striving to become the self-styled “centre for the Islamic economy”, the time is ripe for a breakthrough that would create a lasting legacy.