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Saudi Arabian banks are stocking up on capital to fund the country's huge investment plan
Near $1bn attrition from an order book on Tuesday shows buyers have limits
Another Dubai real estate firm priced fresh sukuk well inside its curve
After a very busy period since June began, the pipeline has thinned out
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Pakistan’s Summit Bank has set up an Islamic branch in Karachi as it looks to be the first conventional bank in the country to become Shariah compliant.
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Undaunted by Turkey’s domestic economic and political uncertainty, the country’s participation banks are lining up to to hit the international market with deals, say bankers. Turkiye Finans looks likely to lead the pack and could bring both a dollar sukuk and murabaha financing.
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With the sukuk market grinding into gear in the first two months of the year, BNP Paribas has emerged as an early top five IFIS global sukuk league table arranger – a surprise given it did not even feature in the top 20 arrangers last year. Meanwhile, last year’s third most active arranger, Maybank, has slipped to tenth place. -
February saw a 14% fall in sukuk volume from the same period last year and a 28% decline from January. The month witnessed only 46 sukuk, compared to 78 sukuk in January, with a total value of $7.45bn.
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The Dubai Multi Commodity Centre Brokerage has partnered up with an interdealer broker for the first time to jointly market commodity murabaha (Islamic financings) on its DMCC Tradeflow platform.
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Bankers worried about a dollar sukuk issuance backlog mounting up towards the end of the year are pushing issuers to accelerate their plans and come to market sooner.
