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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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Istanbul, 16 May 2012 - An agreement to facilitate international cooperation between the two organisations in providing relevant activities relating to training and education in Islamic economics and Islamic finance was signed today by the slamic Financial Services Board (IFSB) and Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC).
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The Islamic Financial Services Board (IFSB) has entered agreements on international cooperation with both the International Centre for Education in Islamic Finance (INCEIF) and the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC).
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Banque Saudi Fransi looks set to launch the first tranche of its recently established $2bn debut international sukuk programme, after completing roadshows last week. Initial guidance for the five-year benchmark is 200bp over mid-swaps, although market talk suggests this could tighten by launch.آ
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Banque Saudi Fransi (BSF) issued its début benchmark sukuk at the tight end of guidance on Tuesday at 185bp over mid-swaps, after increasing the size of the transaction from $500m to $750m. Despite aggressive pricing and a volatile global market backdrop, the deal met strong demand with a book of over $4bn from some 160 orders.
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Gulf Finance House has recorded a $1m net profit for the first quarter of 2012, with $12.9m total income. The bank made $381,000 net profit for the whole year in 2011, although that previous figure was dented by a $4bn loss in Q4, mainly on impairment provisions. The 2011 yearly figure was itself a big improvement on 2010, however, in which GFH took almost $350m of losses.