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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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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.
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Bangladesh is to take $2.2bn in loans for fuel imports this year from the Islamic Development Bank’s lending arm – slightly up from the recently announced $2bn, according to Bangladeshi newspaper The Daily Star.
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Bahrain Islamic Bank has reported a BD36m ($95.7m) net loss for 2012 – more than double its BD17m loss in 2011. The bank attributed this to an increase in its provisions portfolio by BD 41m, but pointed out that its fourth quarter loss was only BD15.3m – down from the BD21m it lost in the fourth quarter of 2011.
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The Islamic Development Bank has approved $450.8m of financing for new development projects in member countries as well as Muslim communities in non-member countries.
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United Gulf Financial Services North Africa, an investment company based in Tunisia, has launched a TD50m ($32m) Shariah compliant fund. The Themar Investment Fund will be financed by the Islamic Corporation for the Development of the Private Sector and the Deposits and Securities Fund of Tunisia.
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London based European Islamic Investment Bank has sold its financing facility in defaulted Arcapita for $8.1m to Barclays Bank . As this is below the original value of the position, EIIB will recognise a $6.9m charge in its 2012 results.