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Yemen plans to issue Islamic bonds soonYemen, the Arab world’s poorest country, plans to issue Islamic bonds soon to finance government projects, Central Bank Governor Mohamed Awad Bin Humam said. (more...) Email Add Comments More stories about: Bonds (Sukuk), New Launches
Goldman Sachs caught in a Sharia Catch-22In September 2011, Goldman Sachs announced it would issue a $2 billion Shariah Compliant Islamic Bond derivative known as a "Sukuk" to finance its current business operations. (more...) Email Add Comments More stories about: Bonds (Sukuk), Market Moves
DIFCI hires Moelis for options on $1.25bln SukukDIFC Investments (DIFCI), the investment arm of the firm that runs Dubai’s financial free zone, has hired US investment bank Moelis & Co to advise on options for a $1.25bn Islamic bond maturing in June, three sources familiar with the matter said. (more...) Email Add Comments More stories about: Bonds (Sukuk)
Al Hilal launches debut Sukuk fundThe flagship fixed-income fund's objective is to generate regular income as well as achieve capital appreciation by investing in globally-diversified Shari’ah-compliant fixed-income securities (Sukuk) issued by sovereign, quasi-sovereign and corporate organisations. (more...) Email Add Comments More stories about: Bonds (Sukuk), Funds
Saudi’s Almarai to start Sukuk roadshow this weekSaudi Arabia's Almarai Co, the Gulf's biggest dairy firm by market value, plans to start a roadshow this week to issue a riyal denominated sukuk, or Islamic bond, the firm said in a bourse statement on Saturday. (more...) Email Add Comments More stories about: Bonds (Sukuk), Market Moves
HSBC Saudi Arabia launches Amanah Sukuk FundThe fund aims to provide investors with income-stabilising and potential growth over the medium-to-long term by investing in local and international Sukuks. (more...) Email Add Comments More stories about: Bonds (Sukuk), Funds
KFH Turkish unit plans lira Sukuk this yearKuwait Finance House's Turkish bank Kuveyt Turk, which issued a $350 million sukuk last year, may issue a lira sukuk in Turkey this year, Murat Cetinkaya, Kuveyt Turk deputy chief executive, told Reuters. (more...) Email Add Comments More stories about: Bonds (Sukuk), New Launches
Maxis may pay special dividend following Sukuk issuanceA special dividend could be on the cards if the working capital portion of Maxis Bhd’s RM2.45bil sukuk issuance is allocated to shareholders, said analysts. (more...) Email Add Comments More stories about: Bonds (Sukuk)
Bank Indonesia will purchase Sukuk to help stabilize bond marketIndonesia’s central bank will buy Islamic government debt to help prevent volatility in the bond market and to increase Shariah-compliant financial instruments, Bank Indonesia said in a statement on its website. (more...) Email Add Comments More stories about: Bonds (Sukuk)
Islamic wealth management: Fortunes of the rich will reach USD 162 trillion in 2015KFH-Research prepared a report about Islamic wealth management industry around the world. It stated that this industry has great growth potentials during the coming years, in light of the growing number of rich Muslims, constant growth of Islamic assets, and the increasing demand for Shariah compliant services and products in Islamic and non-Islamic countries. It revealed that the volume of Islamic assets reached USD 1.3 billion by the end of last year. (more...) Email Add Comments More stories about: Finance, Research
Oman’s CMA to favour standalone Takaful companies over windowsOman’s Capital Market Authority (CMA) has revealed to The Times of Oman that it will favour standalone Takaful companies, which is against the window operations proposed for conventional banks. (more...) Email Add Comments More stories about: Insurance (Takaful)
Tamkeen and BisB sign finance dealTamkeen has signed an agreement with Bahrain Islamic Bank (BisB) under which it will add BD10 million ($26.5m) to its Enterprise Financing Scheme, which it offers in partnership with leading financial institutions in the kingdom. (more...) Email Add Comments More stories about: Banking, Finance
Moot on Islamic bankingMeezan Bank organised an awareness seminar on Islamic banking the other day here at Wazirabad. Consultant Product Department and Sharia of Meezan Bank, Umar Ahmad from Karachi said, “Trade and Riba can not be discussed because there is clear order about illegality of interest and legality of trade by the Almighty Allah”. (more...) Email Add Comments More stories about: Banking, Market Moves
BSN Islamic growth targetBank Simpanan Nasional Bhd (BSN) hopes to sustain a 10 per cent growth in new account holders for all its Islamic banking product this year. The target is based on the good response from BSN's Islamic banking customers, comprising not only Muslim customers but also non-Muslims. (more...) Email Add Comments More stories about: Banking, Market Moves
Saudi's Dar al-Arkan to repay $990 mln debt this yearSaudi Arabia's biggest property developer, Dar al-Arkan, plans to repay about 3.7 billion riyals ($986.6 million) of debt this year, its chief financial officer said on Sunday. (more...) Email Add Comments More stories about: Bonds (Sukuk), Financial Instruments (Credit Cards, Debts, Loans, Mort, Property, Projects, Infrastructure
Islamic finance for investment managers - Five steps to creating a Shariah compliant portfolioAccording to the Global Islamic Finance Report 2011,1 the Islamic finance industry is valued at $1.14 trillion across more than 70 countries and is growing at an annual rate of 10%. It has been performing extremely well since its creation 40 years ago, and its expansion has accelerated in the past few years, within emerging economies around the world but also in non-Muslim majority regions like Europe. (more...) Email Add Comments More stories about: Finance, Investment, Research
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