JCR-VIS assigns local currency ratings on a national scale. Local currency rating on a national scale assumes the national government to be least risky, which is therefore implicitly assigned a 'کAAA' rating. These ratings represent an entity's ability to meet its domestic obligations in the local currency.

Turkey's Bank Asya this week became only the second financial institution from the country to issue a sukuk, pricing its $250m début Reg S dollar tier two in line with initial profit guidance at 7.5%.

International Islamic Liquidity Management Corp (IILM) is in the final stages of issuing a debut short term sukuk, Bank Negara Malaysia 's governor Zeti Akhtar Aziz said on Wednesday. The notes, which are aimed at helping improve global Islamic banking liquidity, could have a maturity of up to one year.

Speculation is mounting that Saudi Electricity Co's planned return to the dollar bond next week could see the company issue a sukuk with a record international maturity of 15 years or upwards.

The ( SC ) today charged three former directors of Axis Incorporation Berhad (Axis) for providing false information to Bursa Malaysia Securities Berhad between 2006 and 2008.

Turkey's Bank Asya has given 7.5% area initial profit guidance on its début Reg S, dollar denominated tier two sukuk. The deal is expected to price on Thursday. The participation bank — the term for Islamic banks in Turkey — is rated Ba2 by Moody's and has mandated Bank of America Merrill Lynch , Emirates NBD Capital, HSBC and National Bank of Abu Dhabi for the sale. Asya completed investor meetings on Wednesday. These began last Thursday in Singapore, before moving to Hong Kong, the UAE, London, Zurich and Geneva, before finishing back in London. Asya has been looking to tap the sukuk market for some time. In December last year it said it would make a second attempt at issuing a deal of up to $300m in the first quarter of 2013. It also floated plans of bringing up to TL150m ($57m) of lira denominated paper. Asya shelved its previous plans for a $300m five year sukuk in November 2011, blaming market conditions. Asya will be only the second participation bank in Turkey to issue sukuk. Kuveyt Turk brought $100m and $350m deals in 2010 an 2011, respectively. Asya said in October 2011 that it had mandated UBS and Citi for meetings with investors for a potential five year dollar sukuk. However, underlying markets in Europe worsened in the weeks that followed and core treasuries hit new record wides.