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There is an aggressive hunt for yield by issuance-starved investors in the Gulf
The duo were the first AT1s from the GCC since Emirates NBD's reopener in April
Books were more than double the deal's size at launch
The company is expanding outside Turkey, such as into Saudi Arabia
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Manama, Bahrain: Islamic Bank today announced a net profit of $5.1 million for the first half-year of 2011, 264% higher than last year.
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JCR-VIS assigns local currency ratings on a national scale. Local currency rating on a national scale assumes the national government to be least risky, which is therefore implicitly assigned a 'کAAA' rating. These ratings represent an entity's ability to meet its domestic obligations in the local currency.
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Karachi, August 5, 2011: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the rating assigned to the outstanding third TFC of Standard Chartered Bank (Pakistan) Limited (SCBPL) at ‘AAA’ (Triple A). Outlook on the ratings is ‘Stable’. The unsecured TFC was issued by the former Union Bank Limited and is subordinated to the claim of depositors.
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Thursday, 04 August 2011 03.08.2011, Jeddah, KSA - The Board of Executive Directors of the Islamic Development Bank (IDB) concluded its 277th meeting in Jeddah, Kingdom of Saudi Arabia, approving US$ 494.73 million in financing for new development projects in member countries and Muslim communities in different parts of the world including a US$ 1 million urgent relief aid to the famine stricken Somalia. Chaired by IDB Group President, Dr. Ahmad Mohamed Ali, the meeting approvals included; “US$ 200 million South Helwan Power Plant Project in Egypt" and “US$ 200 million Ashungahj Power Station Efficiency Improvement Project in Bangladesh", in addition to other projects in Lebanon (US$ 37.2 million), Burkina Faso (US$ 23 million), Cameroon (US$ 16.4 Million), Senegal (US$ 15.6 million).
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respect of Technical Assistance: - US$ 300,000 as T.A grant operation for Al- Azhar Center for Teaching Arabic to Non-Native Speakers The Board of Executive Directors of the Islamic Development Bank regularly meet every two months to discuss the Bank’s development mandate through financing and rendering technical assistance to numerous projects in the Bank’s 56 member countries as well as Muslim communities worldwide. In late June, 2011, IDB Group President Dr. Ahmad Mohamed Ali stated during the Bank’s 36th Annual Meeting in Jeddah that the total amount of development financing of the Bank has exceeded US$ 70 billion since it commenced operations in 1975.
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