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Islamic Finance

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Gulf investors 'will now look at every deal', whether sukuk or not
Demand from the Middle East for the sukuk was steady
Bond pricing for the mining company started about 43bp back of its parent
Sovereign wealth fund takes $2bn, as aimed at
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  • Omani based lender Ahlibank has hired Yousuf al Rawahi as deputy general manager for retail banking, an official at the bank told IFIS.
  • Malaysia’s state owned oil and gas company Petroliam Nasional (Petronas) broke records this week when it priced the largest G3 bond from a southeast Asian corporate. Choosing aggressive pricing over a bigger size, the issuer opted to settle for raising $5bn with the four tranche deal, lower than the expected size of $6bn-$7bn, writes Narae Kim.
  • Bahrain Association of Banks (BAB), an advisory body that represents the interests of the banking community in Bahrain, has hired Waheed Al Qassim as its new chief executive.
  • Threadneedle Investments, a UK-based asset investment manager, has acquired a 2% stake in Shariah compliant Gatehouse Bank.
  • Emirates the airline has made public its mandate for the first sukuk guaranteed by the UK’s Export Credit Guarantee Department.
  • CIMB Group, Malaysia’s second largest financial services provider, has announced three new appointments as part of a shake-up of the group’s senior management, according to a statement on Bursa Malaysia.