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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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Bahrain’s central bank Waqf Fund is to form a committee to oversee external Shariah auditing of Islamic banks and financial institutions – an initiative that authorities hope will reposition the Kingdom as a hub for Islamic finance. -
The dollar sukuk market has seen three issues so far this year, with three great results capped off by the Islamic Development Bank boldly entering new territory with an unprecedented $1.5bn last Thursday. But while each of these deals has stirred Islamic finance professionals to proclaim the growing profile and pools of capital for the asset class, the market is yet to see a true test of demand.
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Malaysian government-owned Syarikat Prasarana Negara has sold a MR2bn ($610m) dual tenor murabaha sukuk, with one of the tranches equalling its previous record size.
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Malaysian insurance firm AIA has merged AIA AFG Takaful into its AIA Public Takaful business, under a single license and brand.
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Bank of London and the Middle East’s chairman, Yacob Al Muzaini, will retire as independent non-executive chairman from the end of March. His decision came as the bank reported £56m total operating income for 2013 – up from £52.5m in 2012.
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Oman’s Bank Muscat, plans to expand its Euro Medium Term Note programme from $800m to $2bn as it seeks to issue another Eurobond. It also plans to raise funds through an Or500m ($1.3bn) sukuk programme with the possibility of international sukuk later on said a senior official, at the bank.
