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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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Murabaha is referred to in English as “cost plus financing”. It is widely known to be one of the easiest modes of Islamic financial transaction – whether for corporate or retail financing – and that is a reason why it takes a big share among sukuk types, as will be highlighted in this report.
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Oman’s central bank plans to establish a national Shariah board which will oversee Islamic banks and financial institutions by the beginning of next year at the latest, according to a senior official. -
Dubai’s rollover of $20bn in debt with the UAE central bank and Abu Dhabi has banished the last spectres of the 2009 Dubai World crisis. But while its new found breathing room makes the emirate a very attractive proposition, what Dubai chooses to do with this should be the litmus test for foreign investors.
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The Central Bank of Bahrain (CBB) will pay a 1% return on its latest BD20m ($53m) of short term sukuk al ijara — a tightening from last month’s issue which paid a 1.1% return.
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Standard Chartered has launched Islamic banking services in Kenya, under its Saadiq brand.
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Eastern Sugar Company (Nuran Sugar) is set to sign a loan worth E£1.5bn ($217m) with 10 banks. The deal is expected to close in mid-April, according to Walid Hassouna deputy general manager and head of Islamic banking at Bank Audi
