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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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Bank Rakyat has sold MR1bn ($302.1bn) of three- and five-year subordinated sukuk in a bid to raise capital and diversify funding sources.
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Luxembourg's debut sukuk plans lost their figurehead this week, with project spokesperson Marc Hansen having been appointed instead to secretary of state for national education for children and youth in higher education and research.
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Petronas Dagangan, the Malaysian domestic marketing subsidiary of Petronas Nasional, has issued its first MR300m ($90.7m) sukuk from a MR2bn programme.
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Gulf bank sukuk is coming back on the radar for international investors for the first time since October, but not from regular sources. Oman’s Bank Muscat will begin speaking to regional banks next week about a debut, and Bahrain’s Gulf Finance House will ask shareholders to approve its first new deal since the financial crisis. -
Dubai’s government will consider setting up the world’s first fully Shariah compliant export and import bank, as it looks to boost trade in and out of the United Arab Emirates.
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Pakistani commercial bank, MCB has started the due diligence process for its purchase of a majority stake in smaller Islamic peer, Burj Bank, as it looks to build an Islamic banking subsidiary.
