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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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QIB's Board of Directors held a meeting today to discuss the financial results for the year ending December 31st, 2011 and has announced net profits reaching QR 1.365 billion, an increase of 8% compared to 2010. QIB Board of Directors proposed a 45 % Cash Profit Distribution to shareholders, subject to the approval of Qatar Central Bank and to be discussed in the next meeting of QIB General Assembly.
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Malaysian power company Sarawak Energy Bhd (SEB) on Wednesday issued a larger than expected MYR2.5bn ($801.79m) second tranche of its sukuk musharakah programme. The company had originally planned to raise an additional MYR1.5bn this month, but opted to fulfill funding requirements early in the year rather than wait till the fourth quarter to issue another tranche.
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Legal practice Norton Rose held its annual Islamic finance event in London on Tuesday led by Farmida Bi, European head of Islamic finance, and hosted in the UK's House of Lords by Lord Sheikh. The event was attended by industry representatives from Islamic and conventional banks, UK government officials as well as Lord Sassoon, commercial secretary to the Treasury and the minister responsible for Islamic finance.
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Saudi-based Riyad Bank has reported a net profit of SAR3.149bn ($840m) for 2011, up 11.5% from SAR2.825bn a year ago. This was aided by a fourth quarter net profit of SAR778m, up 1.8% on the same period in 2010 as a result of higher total operating income.
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Manama, Bahrain -17 January 2012 - The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, has been oversubscribed by 153%.