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Islamic Finance

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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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  • Karachi, September 10, 2012: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Insurer Financial Strength rating of ACE Insurance Limited, Pakistan (ACE Pakistan) at 'AA - ' (Double A Minus) with 'Stable' Outlook.
  • Dubai-based Emirates NBD has appointed Aazar Ali Khwaja as its group treasurer. He reports to group CEO Rick Pudner and replaces the bank's former general manager of global markets and treasury John Eldredge, who left earlier this year after working at ENBD since August 2004.
  • Qatari consumer goods retailer Al-Meera has signed Islamic financing facilities totalling QR900m ($247m).
  • Saudi Hollandi Bank is set to issue SR1.4bn ($373m) of sukuk in a private offering to increase its capital.
  • Hulusi Horozoglu, a senior capital markets official at Citi, is leaving the bank after 12 years. Market talk suggests the Dubai-based banker is joining a rival firm.
  • 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.