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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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There is growing concern that Islamic banking products and services are too closely replicating those of conventional finance, delegates to a London event said this week. The criticism comes despite Shariah law’s ban on riba (interest), gharar (uncertainty from speculation and excessive risk-taking) and maysar (gambling). -
Tunisia’s first takaful firm, Zitouna Takaful has opened a branch in the north eastern city of Nabeul as part of its expansion strategy.
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Oman’s second Islamic bank, Alizz, has appointed its chief operating officer Jamal Darwiche as acting CEO. The bank has also made appointed Saif Al Yarabi as CFO and Pete Byrne as head of internal audit.
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Bahrain based investment house Arcapita is set to emerge from Chapter 11 bankruptcy this week and has plans to issue a $550m perpetual sukuk.
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Nova Resources has agreed to sell its entire investment holding of European Islamic Investment Bank (EIIB) to Pearce Global Investments.
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Bank of London and the Middle East, Europe's largest Islamic bank, is set to list in Dubai next month in a deal that will value the Shariah-compliant lender at $503m.
