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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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Turkey's Bank Asya plans to issue up to TL150m ($83m) of sukuk the end of 2012. As well as being the participation bank's début Islamic bond, it could be the first by a Turkish institution since the success of the $1.5bn sovereign benchmark last week. Asya has said it will use proceeds from the deal to finance investments.
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Malaysia's triple A-rated national mortgage company Cagamas has issued MR500m ($163.13m) of three-month Islamic commercial paper (ICP). The sukuk will rank pari passu with the company's existing unsecured obligations and will be redeemed at full nominal value on maturity.
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The ( SC ) is pleased to announce that Dr Amir Shaharuddin from the Islamic Science University of Malaysia (USIM) has been selected as the first Visiting Fellow of the SC-OCIS Scholar-in-Residence Programme. This programme is part of an ongoing collaboration between the SC and the Oxford Centre for Islamic Studies (OCIS), UK.
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Manama, Bahrain – 24 September 2012 – 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 248%.
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Commercial Bank of Kuwait (CBK) plans to liquidate its CBK Capital proprietary investment unit. The wholly owned subsidiary manages an Islamic finance fund, two money market funds and a Kuwaiti stock fund.
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Al Izz Islamic Bank, under formation as Oman's second dedicated Islamic bank, launched its OR40m ($104m) initial public offer on Saturday. The bank hopes to command a 20% share of Islamic banking business in Oman.