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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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The Malaysian capital market registered a record performance in 2012 with the overall size reaching RM2.5 trillion, a 16.4% increase from RM2.1 trillion in 2011. All market segments saw double digit growth between the range of 14.1% to 22.6%.
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Egypt’s finance ministry is looking to the last quarter of the fiscal year to issue the country’s sovereign sukuk. Speaking at a press conference in Cairo on Tuesday, Ahmed Nagar, a Freedom and Justice Party official charged with overseeing Shariah compliant finance, said that the government had taken proposals from the Islamic Research Academy into account and would ask Al Azhar University specialists to review the plans.
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Bahraini Islamic bank Al Salam has said that it is in merger talks with an unnamed regional bank.
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Dar Al Istithmar — the Shariah advisory firm at the heart of the Goldman Sachs sukuk controversy that saw the bank cancel plans for a $2bn deal — has closed down. The company failed to recover from a rift between staff and shareholders last year that resulted in the firm's senior management and much of its personnel leaving to join another firm, Khalij Islamic.
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The Republic of Indonesia is set to issue Rp1.5tn rupiah ($155.2m) of domestic sukuk on February 5 as it looks to bridge its budget deficit. The sale will see an auction of six month Treasury bills as well as five, nine, 14 and 24 year project based sukuk.
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The UK government is open to discussing new ideas and suggestions to push forward Islamic finance, the country's business secretary Vince Cable said on Tuesday. Speaking at an event hosted by law firm Norton Rose in the UK's House of Commons in London, Cable recognised that Islamic finance is a fast growing industry and expressed interest in looking at how the government could play a part in its development in the UK - citing student loans as one area in which a Shariah compliant solution could possibly be applied.