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Trade was the largest so far from the Dubai property developer
Turkish oil and gas firm offers a pickup to its parent and most other CEEMEA sukuk
Where the company's deal prices relative to its parent will be the topic of investor roadshows
Benin showed Islamic issuance is a viable market for sub-Saharan African sovereigns
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Manama, Bahrain – 25 February 2013 – The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities for the BD 18 million issue, which carries a maturity of 91 days, has been oversubscribed by 223%.
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Egypt is looking to raise between $500m and $1bn in June from its first sale of sukuk. The government is in negotiation over the exact amount and timing, Ahmed El-Naggar, adviser to the finance minister, told IFIS, but it wants to come to market before GCC investors go on annual vacation in the middle part of the calendar year.
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The Central Bank of Bahrain (CBB) has raised BD18m ($47.94m) from its monthly issue of sukuk al-salam Islamic securities. The notes, which carry a 91 day maturity (from February 27), achieved a 223% oversubscription and will have a 0.9% expected return.
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The President of the Islamic Development Bank to Deliver Keynote Address at the Islamic Financial Services Board 10th Anniversary Dinner Kuala Lumpur, 25 February 2013 – The President of the Islamic Development Bank (IDB), H.E. Dr. Ahmad Mohamed Ali Al-Madani will lead this year’s fifteen prominent speakers who have confirmed their participation in the 10th IFSB Summit that will be held on 16 and 17 May 2013 in Kuala Lumpur, Malaysia and hosted by Bank Negara Malaysia. The theme for this year’s IFSB annual event is “The Future of the Islamic Financial Services Industry: Resilience, Stability and Inclusive Growth”.
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The Republic of Indonesia has fallen slightly short of its Rp15tn ($1.55bn) target with a sale of retail sukuk. The country’s finance ministry raised just under Rp14.97tr through the sale of notes, which carry a 6% coupon and three year maturity.
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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.