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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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Dubai Islamic Insurance and Reinsurance (Aman) has lost its chief executive officer.
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Sri Lanka based Amana Takaful has signed a partnership agreement with Commercial Bank of Ceylon to offer takaful services through its branches.
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Saudi telecoms firm Mobily has signed Islamic loan agreements totalling around $650m with Nordic export credit agencies, the firm said on Sunday. -
Pledges of $12bn in aid to Egypt from Saudi Arabia, Kuwait and the United Arab Emirates this week gave the country a boost amid the upheaval of its military coup. But while the support adds confidence in the short term that approaching debt maturities can be met, it has also heightened investor concerns about Egypt’s overall indebtedness.
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Islamic finance has just begun to gain ground in Jordan. Its government passed a sukuk law last year but has yet to issue a sovereign deal. Jordan signed several financing agreements with the Islamic Development Bank over the past year, the most recent of which was a $358m murabaha, via the ITFC, to finance crude oil and other fuel. IFIS spoke with Bassem Awadallah, former finance minister of Jordan and a board member of Al Baraka Bank, about the development of Islamic finance and its wider economic impact.
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Construction company Saudi Binladin has issued a SR1bn ($266.7m) one year murabaha sukuk.
