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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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Kuwaiti investment firm National Industries Group this week regained investor confidence as it scrapped plans to obtain a four year extension on its $475m sukuk and opted instead to repay the notes when they matured on Thursday (16 August).
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Dlala Brokerage and Investment Holding, a Qatari brokerage, has signed a QR110m ($30m) murabaha financing to fund an investment in its real estate subsidiary. Dlala Real Estate Co will use the money to develop a property in Doha.
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Malaysia's AMMB Holdings ( AmBank Group ) has reported a 4.6% net profit rise to MR448.57m ($143.45m) in its first quarter, which ended on June 30. The bank made MR429.1m in the same period last year.
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Malaysia's Celcom Axiata has issued MR5bn ($1.6bn) of sukuk, in what it claimed is the largest murabaha deal based on a tawarruq arrangement in the Malaysian market to date. Proceeds will be used to pay down existing debt and boost capital expenditure.
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Manama, Bahrain: ABC Islamic Bank today announced that its net profit for the first half of 2012 was US$4 million compared to US$5.1 million for the same period in 2011 which included a non-recurring one-off revenue item of US$1.3 million. Net profit for the second quarter was US$2.4 million compared to US$1.6 million in the first quarter of 2012 representing a 50 % quarter on quarter increase, compared to US$2.1 million for the second quarter 2011 representing a 14.3 % increase over the same period last year. Total operating income amounted to US$4 million compared to US$ 3.4 million for the first quarter of 2012. Operating expenses were US$1.4 million compared to US$1.3 million.
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Manama, Bahrain –14th August 2012 – The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, has been fully subscribed by 145%.