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Islamic Finance

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Trade was the largest so far from the Dubai property developer
Turkish oil and gas firm offers a pickup to its parent and most other CEEMEA sukuk
Where the company's deal prices relative to its parent will be the topic of investor roadshows
Benin showed Islamic issuance is a viable market for sub-Saharan African sovereigns
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  • The Islamic Republic of Pakistan, rated B- / CAA1, will consider it a great result if it can re-establish a five- and 10-year international bond curve this week – following a seven year hiatus – by pricing close to higher-rated Zambia. But for a country with Islamic in its name, with a growing Islamic banking industry and with Islamic finance globally gathering momentum, it would be an oversight if it does not also re-establish a sukuk curve, and soon.
  • Kuala Lumpur based RHB Asset Management has launched the RHB-OSK Islamic Regional Balanced Fund, which will invest predominantly in Shariah compliant equities as well as other Shariah compliant products.
  • KazanSummit will put the focus of its forthcoming 2014 summit on strengthening economic and trade relations between the Russian Federation and Organisation of Islamic Cooperation member countries.
  • The Dubai based Gulf Bond and Sukuk Association has accepted RAM Ratings as an associate member – its first inclusion of a Malaysian institution.
  • Sabah Credit Cooperation (SCC) launched a MR1.5bn musharaka sukuk programme on Monday, having issued the last tranche from its previous programme in March.
  • Etiqa Takaful, Malaysia’s biggest takaful operator, is planning a debut MR300m ($91.4m) sukuk – in what looks to be the first of its kind by an Islamic insurer in the country.