Opalesque Islamic Finance Briefing » Property, Projects, Infrastructure http://www.opalesque.com/IslamicFinance_Briefing Mon, 26 Aug 2013 06:56:06 +0000 http://wordpress.org/?v=2.6 en Shariah compliant real estate financing http://www.opalesque.com/IslamicFinance_Briefing/?p=20395 http://www.opalesque.com/IslamicFinance_Briefing/?p=20395#comments Tue, 30 Apr 2013 01:33:59 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=20395 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=20395>Article Link</a> The real estate market in the Middle East has seen a substantial cooling of activity since the global economic downtown at the end of 2008. However, new levels of activity have begun during 2012 as the availability of finance has returned to the market and regional economies are starting to grow once again.
The major driver of real estate expansion within the Middle East is being lead by Saudi Arabia, Qatar and, to a lesser extent, Abu Dhabi. It is estimated, for example, that Saudi Arabia will need 1.2 million new homes by 2015 (Deutsche Bank AG research paper September 2010)………………………………………..Full Article: Source

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Saudi royal decree may ease $67 bln housing logjam http://www.opalesque.com/IslamicFinance_Briefing/?p=20363 http://www.opalesque.com/IslamicFinance_Briefing/?p=20363#comments Thu, 25 Apr 2013 01:25:15 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=20363 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=20363>Article Link</a> A royal decree in Saudi Arabia has shaken up the way in which the government allocates vast tracts of land, removing an obstacle to a $67 billion program to ease the country’s housing shortage.
King Abdullah originally announced the housing scheme in March 2011. His plan to build 500,000 homes over several years was part of a series of official steps to improve social welfare, at a time when social discontent was prompting uprisings in other Arab countries………………………………………..Full Article: Source

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IDB reviewing govt measures on Padma Bridge to revive fund http://www.opalesque.com/IslamicFinance_Briefing/?p=20314 http://www.opalesque.com/IslamicFinance_Briefing/?p=20314#comments Fri, 19 Apr 2013 01:51:03 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=20314 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=20314>Article Link</a> The Islamic Development Bank (IDB) is reviewing the government’s recent measures on the Padma Bridge Project to take a decision on revival of its committed funding support for it. As part of the original deal, it was supposed to construct the approach road on the bridge’s Jajira side.
The government made earlier a request to the IDB to revive its funding support for the Padma Bridge project. The ministry of finance (MoF) sources said that the lending agency that was a co-financier for the Padma Bridge project as a member of the previously formed, but now non-functional, World Bank-led consortium, has expressed interest to meet the request of Bangladesh to revive its funding support for it………………………………………..Full Article: Source

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Shariah compliant funds could boost Brazilian development http://www.opalesque.com/IslamicFinance_Briefing/?p=20292 http://www.opalesque.com/IslamicFinance_Briefing/?p=20292#comments Wed, 17 Apr 2013 00:08:05 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=20292 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=20292>Article Link</a> The sixth-largest global economy, Brazil represents a very real opportunity for Islamic finance to spread its wings in a hitherto relatively untapped region, while Shariah compliant finance offers Brazil an exciting source of funding to boost development. Alexandre Lopes discusses the opportunities and challenges involved.
Known for its profit and loss sharing principle, Islamic finance seems to be expanding the global footprint of its funds to countries outside its original market in the Middle East. As this US$1.3 trillion industry sets sail, an untapped huge market in South America is likely to cross its path…………………………………….Full Article: Source

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Islamic finance KLCCP Stapled Group http://www.opalesque.com/IslamicFinance_Briefing/?p=20215 http://www.opalesque.com/IslamicFinance_Briefing/?p=20215#comments Wed, 10 Apr 2013 01:35:57 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=20215 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=20215>Article Link</a> KLCC Property Holdings Bhd (KLCCP) is eyeing significant redevelopment opportunities for some of its assets as it transforms itself to become the country’s largest real estate investment trust (REIT) – KLCCP Stapled Group.
“We have a three-pronged approach for growth and this includes the significant redevelopment potential arising from Kompleks Dayabumi, and that is why we have not injected it into the REIT yet………………………………………..Full Article: Source

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$ 617 mln IDB funding for new projects http://www.opalesque.com/IslamicFinance_Briefing/?p=20169 http://www.opalesque.com/IslamicFinance_Briefing/?p=20169#comments Fri, 05 Apr 2013 00:06:12 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=20169 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=20169>Article Link</a> At the 289th meeting of its board of executive directors convened beginning of the week, the Islamic Development Bank (IDB) approved $ 617 million toward funding development projects, which included important projects in the areas of education ($ 174 million for Indonesia), electricity ($ 319.6 million for Iran, Uganda and Bangladesh), agriculture ($ 80 million for Morocco), sanitation ($ 15 million in Maldives) and health ($ 10 million for Mozambique).
The board members concurred to raise IDB’s participation in the capital of the Istanbul-based Kuwait Turkish Participation Bank Inc. by nearly $ 18 million to stand at $ 65 million………………………………………..Full Article: Source

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IDB approves $ 617 mln funding for new development projects http://www.opalesque.com/IslamicFinance_Briefing/?p=20142 http://www.opalesque.com/IslamicFinance_Briefing/?p=20142#comments Wed, 03 Apr 2013 23:56:01 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=20142 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=20142>Article Link</a> The Islamic Development Bank (IDB) approved $ 617 million toward funding development projects, which included important projects in the areas of education ($ 174 million for Indonesia), electricity ($ 319.6 million for Iran, Uganda and Bangladesh), agriculture ($ 80 million for Morocco), sanitation ($ 15 million in Maldives) and health ($ 10 million for Mozambique).
The board members concurred to raise IDB’s participation in the capital of the Istanbul-based Kuwait Turkish Participation Bank Inc. by nearly $ 18 million to stand at $ 65 million………………………………………..Full Article: Source

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Dana Gas launches consent solicitation for $1 bln refinancing process http://www.opalesque.com/IslamicFinance_Briefing/?p=20094 http://www.opalesque.com/IslamicFinance_Briefing/?p=20094#comments Thu, 28 Mar 2013 01:09:01 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=20094 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=20094>Article Link</a> Dana Gas has announced that it has today (27 March) launched the process of seeking consents from the holders of the $1 billion Sukuk-al-Mudarabah issued by Dana Gas Sukuk to restructure the Sukuk on previously announced terms.
As a normal part of this process, Dana Gas today (27 March) issued an announcement on the UK Regulatory News Service confirming the launch of the consent solicitation process, a period in which the company seeks approval from holders of the Sukuk………………………………………..Full Article: Source

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NCB secures ‘best Islamic project finance deal’ award http://www.opalesque.com/IslamicFinance_Briefing/?p=20089 http://www.opalesque.com/IslamicFinance_Briefing/?p=20089#comments Thu, 28 Mar 2013 01:06:39 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=20089 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=20089>Article Link</a> The National Commercial Bank (NCB) was recently declared winner of the “Best Islamic Project Finance Deal 2013 Award” by Euromoney for being one of the main organizers and for its participation with major portion of the total finance amounting to $1.2 billion for the expansion project of Prince Mohammed bin Abdulaziz International Airport in Madinah.
This is the first financing transaction in the world for an airport project structured in accordance to the Islamic law with the partnership of the public and private sectors. NCB is considered as the largest contributor to the finance deal for this megaproject, the funding of this Shariah-compliant transaction is primarily based on the assets………………………………………..Full Article: Source

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Shura Council debates IDB contribution to South Helwan power station http://www.opalesque.com/IslamicFinance_Briefing/?p=20062 http://www.opalesque.com/IslamicFinance_Briefing/?p=20062#comments Tue, 26 Mar 2013 00:52:12 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=20062 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=20062>Article Link</a> The Shura Council on Monday discussed plans to include the Islamic Development Bank (IDB) as a potential partner with the Egyptian government to contribute funds towards the second payment installment of an electrical station set to be built in southern Helwan.
The installment would cost an estimated $250m. Minister of Electricity and Energy Ahmed Imam stated that the station would operate at 1,950 MW, and would require a total of EGP 13bn in investments over the whole course of the construction project. He added it was part of Egypt’s 2012-2017 ‘five-year project plan’………………………………………..Full Article: Source

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IDB, Ecobank earmark EUR377mln for Iran’s water and wastewater projects http://www.opalesque.com/IslamicFinance_Briefing/?p=19911 http://www.opalesque.com/IslamicFinance_Briefing/?p=19911#comments Wed, 13 Mar 2013 00:16:02 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=19911 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=19911>Article Link</a> The Islamic Development Bank and the Ecobank have allocated €377 million to Iran’s water and wastewater projects, IRNA quoted Iranian water and wastewater company official Hossein Bonakdari as saying.
The IDB and the Ecobank allocated €342 million and €35 million, respectively, he noted. He added that 8.75 trillion rials (about $714 million) worth of bonds were issued and a major portion of which were sold to finance water supply projects………………………………………..Full Article: Source

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NBD to finance electric grid using Islamic finance http://www.opalesque.com/IslamicFinance_Briefing/?p=19724 http://www.opalesque.com/IslamicFinance_Briefing/?p=19724#comments Mon, 25 Feb 2013 00:31:05 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=19724 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=19724>Article Link</a> The National Bank for Development (NBD) announced on that it has signed on to finance US$110 million in improvements for the East Delta Electricity Company, which will be the first public project financed according to principles of Islamic Sharia, according to a bank statement.
The financing will go towards parts replacements in the Shabab and Damietta stations run by the East Delta Electricity Production Company. These improvements, according to the bank, will help increase the capacity of the national electrical grid………………………………………..Full Article: Source

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Islamic fund manager gets hold of a hot property http://www.opalesque.com/IslamicFinance_Briefing/?p=19480 http://www.opalesque.com/IslamicFinance_Briefing/?p=19480#comments Fri, 01 Feb 2013 00:20:37 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=19480 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=19480>Article Link</a> Great news for investors looking for better returns: sharemarket superstar Trevor Rowe has been appointed to the advisory board of Islamic funds manager Crescent Wealth.
Rowe, AO, the chairman of former Nicholas Bolton plaything BrisConnections, is a well-known figure in the boardrooms of Australia. Among other things he is executive chairman of Rothschild Australia and chairman of UGL, as well as being a former chairman of the Queensland Investment Corporation and of ASX………………………………………..Full Article: Source

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Kingdom sees future in Islamic loans as Alwaleed builds tower http://www.opalesque.com/IslamicFinance_Briefing/?p=19442 http://www.opalesque.com/IslamicFinance_Briefing/?p=19442#comments Tue, 29 Jan 2013 23:49:57 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=19442 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=19442>Article Link</a> Kingdom Holding Co. (KINGDOM), controlled by billionaire Prince Alwaleed bin Talal, established a committee to help the company move toward Shariah-compliant loans as Islamic financing gains appeal among borrowers.
The committee will “prepare an integrated strategic plan for the conversion of future loans in accordance with the Islamic Shariah,” the Riyadh-based company said in an e-mailed statement today. The panel will comprise Sheikh Abdullah Sulaiman Al Manee’a, an adviser to the Royal Court, Sheikh Mohamed Ali Elgari, Sheikh Ali Abdulaziz AlNashwan and Abdulah Salim AlGhamdi………………………………………..Full Article: Source

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Govt in talks for IDB credits for oil import in 4 years http://www.opalesque.com/IslamicFinance_Briefing/?p=19385 http://www.opalesque.com/IslamicFinance_Briefing/?p=19385#comments Thu, 24 Jan 2013 01:01:52 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=19385 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=19385>Article Link</a> The Islamic Development Bank (IDB) is likely to provide credits up to US$ 11 billion to the Bangladesh Petroleum Corporation (BPC) in four years up to 2016 for purchase of petroleum oil, officials said Wednesday.
Economic Relations Division (ERD) officials said the Jeddah-based lender had given assurances about giving $8.0 billion to $11 billion in the form of short-term credit to the state-owned corporation under its proposed Member Country Partnership Strategy (MCPS)………………………………………..Full Article: Source

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Why have the Islamic countries failed to develop even with resources like oil, while countries with no resources like Switzerland have flourished? http://www.opalesque.com/IslamicFinance_Briefing/?p=19202 http://www.opalesque.com/IslamicFinance_Briefing/?p=19202#comments Wed, 09 Jan 2013 01:03:06 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=19202 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=19202>Article Link</a> It’s true. Outside of oil and gas projects and a few specific infrastructure projects (ports like Jebel Ali and airports like Dubai), far less real economic development has happened in the oil-rich parts of the Arab world than would be expected based on their great endowment of human and natural resources.
The Islamic world isn’t monolithic, and it’s probably worthwhile to address relatively stable oil-rich states separately from Iraq, Iran, and Libya, again separately from other Islamic states without much oil separately from Asian Islamic countries like Malaysia and Indonesia. Let’s look specifically at the stable oil rich Arab Islamic states for now………………………………………..Full Article: Source

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Indonesia: Govt to use sukuk for infrastructure projects http://www.opalesque.com/IslamicFinance_Briefing/?p=19144 http://www.opalesque.com/IslamicFinance_Briefing/?p=19144#comments Wed, 02 Jan 2013 00:12:02 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=19144 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=19144>Article Link</a> The Indonesian government will issue rupiah-denominated sukuk Islamic bonds to finance state projects next year, a move welcomed by analysts as a breakthrough in the development of the country’s undersized Islamic finance sector.
The Finance Ministry plans to borrow up to Rp 1 trillion (US$103.5 million) through sukuk issuance to finance state projects next year, according to the 2013 state budget financial note. Sukuk should be seen as alternative source of financing for the government’s infrastructure projects, the note adds………………………………………..Full Article: Source

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Emaar obtains $500 mln financing facility for Turkey project http://www.opalesque.com/IslamicFinance_Briefing/?p=19108 http://www.opalesque.com/IslamicFinance_Briefing/?p=19108#comments Thu, 20 Dec 2012 00:15:08 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=19108 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=19108>Article Link</a> Emaar Properties PJSC (EMAAR), the developer of the world’s tallest tower in Dubai, obtained a $500 million loan from a group of banks to develop a mixed-use project in Turkey, its second such venture in the country.
Emaar raised $500 million in July from the sale of seven- year Islamic bonds at a profit rate of 6.4 percent, according to data compiled by Bloomberg. The bonds traded at a yield of 4.898 percent today, according to the data………………………………………..Full Article: Source

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Why Shariah finance and real estate are a perfect match http://www.opalesque.com/IslamicFinance_Briefing/?p=19099 http://www.opalesque.com/IslamicFinance_Briefing/?p=19099#comments Tue, 18 Dec 2012 23:50:52 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=19099 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=19099>Article Link</a> Islamic finance continues to grow as a prudent alternative to conventional debt-based structures. Financial assets total more than US$1.3 trillion and instruments are expanding into new countries beyond its traditional markets in the Middle East and Malaysia.
At its core, Shariah principles favour the development and sharing of risk in physical assets, which contribute to the economic growth of society. There is therefore a natural match between the Islamic finance model and the acquisition and development of real estate assets. Moreover, Islamic finance is a flexible tool which can be used for a wide range of real estate financings………………………………………..Full Article: Source

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PwC launches first survey for Capital Projects and Infrastructure in the Middle East http://www.opalesque.com/IslamicFinance_Briefing/?p=19054 http://www.opalesque.com/IslamicFinance_Briefing/?p=19054#comments Thu, 13 Dec 2012 23:56:34 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=19054 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=19054>Article Link</a> PwC launched its first survey for Capital Projects and Infrastructure in the Middle East, titled “Delivering the Middle East’s Mega Projects”. The survey reveals that investment in major projects remains positive despite challenging economic conditions both globally and in the Middle East.
66% of respondents reported spending over $100m on major projects in 2012 across a broad range of industry sectors, with 72% expecting to increase their spending in 2013. Released today, the report seeks to establish issues and challenges facing project owners and explore opportunity markets. The report also sheds light on project financing issues, including funding constraints, perception of private financing and the funding outlook for 2013………………………………………..Full Article: Source

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Kuwait Finance House makes $89 mln profit from land sale http://www.opalesque.com/IslamicFinance_Briefing/?p=18981 http://www.opalesque.com/IslamicFinance_Briefing/?p=18981#comments Mon, 10 Dec 2012 00:53:35 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18981 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18981>Article Link</a> Kuwait Finance House (KFIN) made a 25 million-dinar ($89 million) profit from a property deal as the country’s biggest Islamic lender reorganizes its business.The bank sold 16 units of land for 84 million dinars, it said in an e-mailed statement. Profit from the sale will be included in 2012 financial results.
Kuwait Finance House said last month it plans to boost capital by 20 percent to help finance its five-year plan and support expansion. The lender said in March it will restructure, merge or sell unprofitable units to boost earnings………………………………………..Full Article: Source

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Brunei: Islamic financing ‘very feasible’ model for project funding http://www.opalesque.com/IslamicFinance_Briefing/?p=18935 http://www.opalesque.com/IslamicFinance_Briefing/?p=18935#comments Wed, 05 Dec 2012 00:16:27 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18935 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18935>Article Link</a> Islamic financing is a “very feasible” model for funding major projects and will benefit Brunei’s economy. Shazali Sulaiman, a local partner at KPMG (a global network of professional firms specialising in financial services), and a speaker at yesterday’s Islamic Finance News (IFN) Roadshow at the Empire Hotel and Country Club, said Islamic syariah-compliant financing for major projects would be good news for Brunei.
“It will benefit Brunei because we are using local banks and international banks, which are working together to come up with the structure of the financing, and that will help develop a more established Islamic capital market in Brunei later on,” Sulaiman said………………………………………..Full Article: Source

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Malaysia’s UEM Land to raise $657 mln with Islamic bonds http://www.opalesque.com/IslamicFinance_Briefing/?p=18916 http://www.opalesque.com/IslamicFinance_Briefing/?p=18916#comments Tue, 04 Dec 2012 00:36:33 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18916 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18916>Article Link</a> The property developer arm of Malaysia’s sovereign fund Khazanah Nasional Bhd will issue Islamic bonds worth up to 2 billion ringgit ($657.95 million) to fund working capital, repay debts and redeem its convertible preference shares.
The Islamic bonds are UEM Land Holdings Bhd’s first debt issue, and could go towards the development of its projects in Nusajaya, a new economic district to the south of the capital, Kuala Lumpur………………………………………..Full Article: Source

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Gatehouse Bank acquires US industrial real estate portfolio http://www.opalesque.com/IslamicFinance_Briefing/?p=18908 http://www.opalesque.com/IslamicFinance_Briefing/?p=18908#comments Tue, 04 Dec 2012 00:33:50 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18908 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18908>Article Link</a> Gatehouse Bank plc (Gatehouse), a Shariah compliant bank based in the City of London, has completed the acquisition of a diverse industrial portfolio of 19 operationally critical properties across the United States of America. The portfolio is stabilised at 100% occupancy, and the properties are leased to 16 tenants with an average remaining lease term of 14 years.
The $178 million portfolio was acquired in partnership with the Brennan Investment Group (BIG). The properties, located in 16 cities across the Midwest, Northeast, Southeast and Southwest regions of the U.S., will be held for approximately five years, offering investors a stable projected net annual cash yield as well as an attractive IRR upon exit from the investment………………………………………..Full Article: Source

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Turkish Airlines eyes possible $500mln lease deal http://www.opalesque.com/IslamicFinance_Briefing/?p=18850 http://www.opalesque.com/IslamicFinance_Briefing/?p=18850#comments Wed, 28 Nov 2012 01:01:14 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18850 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18850>Article Link</a> Turkey’s national carrier Turkish Airlines is in talks with banks about a leasing arrangement worth around $500 million to help fund its plane orders from 2014, bankers familiar with the negotiations said.
Turkish Airlines was also considering issuing sukuk — Islamic bonds — or eurobonds next year to finance its aircraft acquisition plans from 2014, they said………………………………………..Full Article: Source

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Financing challenge overhangs huge Dubai projects http://www.opalesque.com/IslamicFinance_Briefing/?p=18840 http://www.opalesque.com/IslamicFinance_Briefing/?p=18840#comments Wed, 28 Nov 2012 00:59:10 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18840 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18840>Article Link</a> Dubai is reviving massive real estate projects as its economy recovers from a corporate debt crisis, but this time around, constraints on financing are likely to slow the pace of its building boom.
Sukuk (Islamic bonds) from Dubai have attracted massive demand, partly because of a huge supply/demand imbalance among cash-rich Islamic funds. So sukuk could play a big role in Dubai’s financing activities. However, bond market traders and investors said the Dubai government might not be able to raise more than roughly $3 billion through bond issues in a single year………………………………………..Full Article: Source

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MAS secures RM5bln financing for aircraft http://www.opalesque.com/IslamicFinance_Briefing/?p=18783 http://www.opalesque.com/IslamicFinance_Briefing/?p=18783#comments Wed, 21 Nov 2012 23:52:43 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18783 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18783>Article Link</a> Malaysian Airline System Bhd (MAS) has entered into an Islamic financing scheme of up to RM5.3 billion to fund the purchase of eight aircraft. The national carrier had executed a master facility for a Bai’ Bithaman Ajil Islamic financing arrangement with Turus Pesawat Sdn Bhd, a special purpose company owned by the Ministry of Finance (MoF), to provide financing facilities.
The current facility will be used to finance the purchase of six Airbus A380-800, one Airbus A330- 200F and one Airbus A330-300 and other related expenses, MAS said in a filing to the exchange………………………………………..Full Article: Source

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Qatar Telecom agrees $500 mln debut Islamic finance deal http://www.opalesque.com/IslamicFinance_Briefing/?p=18782 http://www.opalesque.com/IslamicFinance_Briefing/?p=18782#comments Wed, 21 Nov 2012 00:20:34 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18782 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18782>Article Link</a> Qatar Telecom (Qtel), one of the Gulf Arab region’s largest telecoms firms, has signed its debut Islamic financing facility, the operator said on Tuesday.
The $500 million deal, which runs for 18 months and is structured as a revolving Murabaha facility, was provided by Qatar Islamic Bank in a capacity as sole mandated lead arranger, the former monopoly said in an emailed statement. A murabaha is a sharia-compliant cost-plus-profit arrangement……………………………………….Full Article: Source

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QInvest arranges $106.7 mln Islamic syndicated facility http://www.opalesque.com/IslamicFinance_Briefing/?p=18744 http://www.opalesque.com/IslamicFinance_Briefing/?p=18744#comments Mon, 19 Nov 2012 01:43:42 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18744 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18744>Article Link</a> Mazaya Qatar Real Estate Development Company QSC has signed a dual-currency, $106.7m 8-year syndicated facility to finance the development of the Sidra Village Residential Project. QInvest acted as Financial Advisor to Mazaya Qatar Real Estate Development Company and Sole Bookrunner for the facility.
Qatar Islamic Bank took the Investment Agent and Mandated Lead Arranger roles and was joined in the facility at MLA level by a group of regional financial institutions comprising ABC (through Arab Banking Corporation and ABC Islamic Bank), National Bank of Abu Dhabi, and First Gulf Bank, with Ahli United Bank taking a Lead Arranger role………………………………………..Full Article: Source

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IDB provides EUR1.27bln in loans for Iran wastewater projects http://www.opalesque.com/IslamicFinance_Briefing/?p=18710 http://www.opalesque.com/IslamicFinance_Briefing/?p=18710#comments Wed, 14 Nov 2012 01:00:53 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18710 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18710>Article Link</a> The Islamic Development Bank has allocated €1.27 billion in loans to Iran for implementing a number of wastewater projects, the Fars News Agency quoted Iranian National Water and Wastewater Company Deputy Director Hossein Bonakdari as saying on Tuesday.
The loan has been provided according to a deal for a period of three years, he said, adding that three projects are underway which have been financed by the IDB loans………………………………………..Full Article: Source

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Islamic Development Bank to finance 752.5-mln-USD development projects http://www.opalesque.com/IslamicFinance_Briefing/?p=18709 http://www.opalesque.com/IslamicFinance_Briefing/?p=18709#comments Wed, 14 Nov 2012 01:00:39 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18709 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18709>Article Link</a> The Islamic Development Bank in Jeddah, Saudi Arabia, approved this week the financing of some development projects valued at 752.5 million U.S. dollars across the globe.
The bank will provide 250 million U.S. dollars for the second phase of the construction of a power station in Egypt, said the report. The bank will also provide 277 million U.S. dollars to assist Pakistan’s efforts to fight polio and 50 million U.S. dollars to improve the Yemeni job market for young people………………………………………..Full Article: Source

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IDB allocates loan to modernise two Uzbekistan hydropower plants http://www.opalesque.com/IslamicFinance_Briefing/?p=18646 http://www.opalesque.com/IslamicFinance_Briefing/?p=18646#comments Thu, 08 Nov 2012 01:03:35 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18646 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18646>Article Link</a> The Islamic Development Bank (IDB) and Uzbek government have recently signed a financial agreement on the allocation of credit to the sum of $100 million for a modernisation project of two hydropower plants in the Tashkent region.
The agreement was signed during the Tashkent meeting of the Arab Coordination Group (ACG), which was attended by members of the Uzbek government and representatives of the financial and business sectors. The ACG includes the Islamic Development Bank, the Saudi Fund for Development and the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development and the Abu Dhabi Fund for Development………………………………………..Full Article: Source

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Islamic architecture rivals modern structures in Qatar http://www.opalesque.com/IslamicFinance_Briefing/?p=18607 http://www.opalesque.com/IslamicFinance_Briefing/?p=18607#comments Tue, 06 Nov 2012 01:12:33 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18607 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18607>Article Link</a> Modern buildings are constructed daily in Doha, but urban planners designing the city that overlooks the Arabian Gulf have not lost sight of the importance of preserving Qatar’s rich architectural past, experts say.
Beginning in 1995, Qatar began to revive the spirit of historical buildings, according to archaeology expert Mohammad al-Khulaifi, 1993 winner of a prestigious award from the Organisation of Islamic Capitals and Cities………………………………………..Full Article: Source

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Overbanked Qatar bulks up for infrastructure boom http://www.opalesque.com/IslamicFinance_Briefing/?p=18578 http://www.opalesque.com/IslamicFinance_Briefing/?p=18578#comments Fri, 02 Nov 2012 00:58:46 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18578 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18578>Article Link</a> Qatari banks are bulking up to play a role in funding the country’s massive infrastructure expansion. But in a country which is already overbanked by some measures, they may risk becoming too big.
Doha Bank, Qatar’s fifth-largest lender by market value and part-owned by the country’s sovereign wealth fund, announced plans in October to increase its share capital by 50 percent in the first quarter of next year, raising about $1.6 billion………………………………………..Full Article: Source

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KSA to fund $ 100 mln Kabul Islamic center http://www.opalesque.com/IslamicFinance_Briefing/?p=18527 http://www.opalesque.com/IslamicFinance_Briefing/?p=18527#comments Tue, 30 Oct 2012 01:13:48 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18527 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18527>Article Link</a> Saudi Arabia will build a massive Islamic center complete with a university and a mosque in Afghanistan, an Afghan minister said, describing the project as “grand and unique.” Estimated to cost up to $100 million, the center on a hilltop in central Kabul will house up to 5,000 students, Dayi-Ul Haq Abed, the acting Haj and religious affairs minister told AFP.
It will be named after Custodian of the Two Holy Mosques King Abdullah, the minister added. “The agreement was signed last week in Jeddah. The construction will start next year, in a couple of months or so,” Abed said………………………………………..Full Article: Source

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Why Shariah finance and real estate are a perfect match http://www.opalesque.com/IslamicFinance_Briefing/?p=18522 http://www.opalesque.com/IslamicFinance_Briefing/?p=18522#comments Mon, 29 Oct 2012 00:36:54 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18522 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18522>Article Link</a> Islamic finance continues to grow as a prudent alternative to conventional debt-based structures. Financial assets total more than $1.3 trillion and instruments are expanding into new countries beyond its traditional markets in the Middle East and Malaysia. At its core, Sharia principles favour the development and sharing of risk in physical assets, which contribute to the economic growth of society.
There is therefore a natural match between the Islamic finance model and the acquisition and development of real estate assets. Moreover, Islamic finance is a flexible tool which can be used for a wide range of real estate financings. This ranges from residential mortgages (such as the United National Bank of Pakistan’s lease-based mortgage, the first of its kind in the UK), to large scale financings such as Qatari Diar’s acquisition of the Chelsea Barracks and the construction of the Shard of Glass in London. ……………………………………….Full Article: Source

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Malaysia: Creative wakaf land projects http://www.opalesque.com/IslamicFinance_Briefing/?p=18482 http://www.opalesque.com/IslamicFinance_Briefing/?p=18482#comments Thu, 25 Oct 2012 01:05:57 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18482 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18482>Article Link</a> UDA Holdings Bhd has come up with a development blueprint to sidestep limitations for proposed projects on wakaf (endowment) land in the country. The blueprint — first of its kind here — will see the development of commercial properties for higher returns to the respective Muslim community, simply by leasing out the plots while maintaining the Islamic titles.
Otherwise, complications arise due to wakaf land currently being regulated and managed under different laws and regulations within the purview of the States Islamic Religious Council — consisting of 15 states and federal territories in the country, said UDA chairman Datuk Nur Jazlan Mohamed………………………………………..Full Article: Source

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GFH’s India project is a step closer http://www.opalesque.com/IslamicFinance_Briefing/?p=18391 http://www.opalesque.com/IslamicFinance_Briefing/?p=18391#comments Tue, 16 Oct 2012 00:48:10 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18391 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18391>Article Link</a> The Mumbai Economic Development Zone (MEDZ) has been granted access rights to the Mumbai-Pune highway. Energy City Navi Mumbai and Mumbai IT and Telecom City projects are together named the MEDZ.
It is a joint development project between Gulf Finance House (GFH), the Bahrain-based Islamic investment bank, and the Wadhwa Group, a leading real estate developer in India. The project is GFH’s flagship development project in India………………………………………..Full Article: Source

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Solar Guys tap Islamic finance for 50MW Indonesia project http://www.opalesque.com/IslamicFinance_Briefing/?p=18371 http://www.opalesque.com/IslamicFinance_Briefing/?p=18371#comments Mon, 15 Oct 2012 00:49:29 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18371 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18371>Article Link</a> Queensland solar company The Solar Guys has tapped into the huge Islamic finance market to fund a 50MW solar PV project in Indonesia, the first in a series of projects under an agreement struck with the Indonesian government.
The Solar Guys are proposing to build 250MW of solar PV under a plan it has dubbed the “One Solar Watt Per Person” campaign. The target of 250MW translates into 250 million watts, which roughly equates to Indonesia’s population………………………………………..Full Article: Source

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Kuwaiti-owned bank helps acquire another prestigious property in London, UK http://www.opalesque.com/IslamicFinance_Briefing/?p=18326 http://www.opalesque.com/IslamicFinance_Briefing/?p=18326#comments Wed, 10 Oct 2012 00:36:28 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18326 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18326>Article Link</a> Gatehouse Bank plc, a Kuwaiti-owned wholesale Shariah compliant investment bank based in the City of London, has completed the £165m acquisition of the law firm SJ Berwin’s offices at 10 Queen Street Place in London, in collaboration with a flourishing Malaysian Sovereign Wealth fund.
Gatehouse acted as Investment and Shariah Adviser for the deal, which marks the Malaysian client’s first investment into the London real estate market and is a key part of its wider global investment strategy………………………………………..Full Article: Source

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Sukuk crucial to infrastructure development, new report shows http://www.opalesque.com/IslamicFinance_Briefing/?p=18297 http://www.opalesque.com/IslamicFinance_Briefing/?p=18297#comments Mon, 08 Oct 2012 03:35:12 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18297 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18297>Article Link</a> Sukuk have played a crucial role in the infrastructure sector over the past decade, with proceeds raised from issuances being utilised for both low and high profile projects, according to KFH Research.
The very nature of Sukuk combined with their flexibility allows them to be structured in various different ways which has attracted corporate and sovereign entities to choose Islamic bonds as a viable alternative financing instrument. The infrastructure sector has seen a large portion of the raised Sukuk funds directed to development projects around the globe………………………………………..Full Article: Source

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Sukuk plays key role in financing infrastructure sector http://www.opalesque.com/IslamicFinance_Briefing/?p=18293 http://www.opalesque.com/IslamicFinance_Briefing/?p=18293#comments Mon, 08 Oct 2012 03:33:53 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18293 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18293>Article Link</a> Sukuk (Islamic bonds) have played a crucial role in the infrastructure sector over the past decade, with proceeds raised from issuances being utilized for both low and high profile projects.
The cumulative infrastructure projects and funding needs in both the GCC and Asian regions are expected to support the sukuk market in 2012 and 2013 given that infrastructure spending has been one of the key drivers or economic growth in the GCC over the past decade. An important dimension of the infrastructure investments has centered on efforts to turn the region into an internationally significant transportation hub………………………………………..Full Article: Source

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Sukuk: Financing the infrastructure sector http://www.opalesque.com/IslamicFinance_Briefing/?p=18277 http://www.opalesque.com/IslamicFinance_Briefing/?p=18277#comments Fri, 05 Oct 2012 02:49:18 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18277 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18277>Article Link</a> Sukuk have played a crucial role in the infrastructure sector over the past decade, with proceeds raised from issuances being utilised for both low and high profile projects. The very nature of sukuk combined with their flexibility allows them to be structured in various different ways which has attracted corporate and sovereign entities to choose Islamic bonds as a viable alternative financing instrument.
The infrastructure sector has seen a large portion of the raised sukuk funds directed to development projects around the globe………………………………………..Full Article: Source

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Gulf investors working on Leeds United takeover http://www.opalesque.com/IslamicFinance_Briefing/?p=18193 http://www.opalesque.com/IslamicFinance_Briefing/?p=18193#comments Fri, 28 Sep 2012 01:22:05 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18193 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18193>Article Link</a> A Bahraini investment bank is working on a deal to buy England’s Leeds United Football Club, in what could be the latest acquisition of a European soccer team by oil-rich Gulf investors.
Gulf Finance House, an Islamic investment bank from the tiny Gulf island state, said Thursday one of its Dubai-based subsidiaries will “lead and arrange the acquisition of Leeds City Holdings, the parent company of LUFC.” A person familiar with the matter said the transaction price would be about £50 million ($80.8 million), and that GFH Capital is acting on behalf of “investors from the Gulf,” without elaborating………………………………………..Full Article: Source

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Aircraft investment, Islamic finance key to growth: Boeing http://www.opalesque.com/IslamicFinance_Briefing/?p=18162 http://www.opalesque.com/IslamicFinance_Briefing/?p=18162#comments Wed, 26 Sep 2012 01:25:39 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18162 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18162>Article Link</a> Boeing Capital Corporation ‘BCC’ stressed on the need for airline to invest strategically into new aircraft and the long-anticipated growth of Islamic financing’s role in commercial airplane deliveries is also coming to fruition. Airplanes have been regarded as ideal for lending under Shariah law given their mobile nature and asset attractiveness.
These discussions were highlighted as financial institutions and airlines in the Middle East have significantly increased their capital investments in new Boeing commercial airplanes over the past two years, thus realizing substantial rewards for their investors as demand for new airplanes continues to expand………………………………………..Full Article: Source

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In 2012-2014 IDB will finance Kazakhstan projects worth 1 bln USD http://www.opalesque.com/IslamicFinance_Briefing/?p=18060 http://www.opalesque.com/IslamicFinance_Briefing/?p=18060#comments Wed, 19 Sep 2012 01:36:51 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=18060 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=18060>Article Link</a> As part of the implementation of the country strategy together with Kazakhstan, in 2012-2014 the Islamic Development Bank may finance projects worth 1 billion USD. The vice president on finance Abdulaziz Al-Hinai has announced that at the beginning of October in Astana the Islamic Development Bank will sign a new country strategy of the bank in Kazakhstan.
He hasn’t told about the document in details and just announced that the sides are still discussing some issues of the strategy. In his turn, at the meeting in Almaty the deputy minister of industry and new technologies Bakhytzhan Dzhaksaliyev noted that in the nearest 2 years the IDB will finance projects worth to 1 billion US dollars in Kazakhstan………………………………………..Full Article: Source

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Innovative structures in Islamic project finance http://www.opalesque.com/IslamicFinance_Briefing/?p=17993 http://www.opalesque.com/IslamicFinance_Briefing/?p=17993#comments Fri, 14 Sep 2012 01:45:55 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17993 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17993>Article Link</a> In recent times Islamic project finance has shown its ability to adapt in the face of a number of hurdles that are not encountered in conventional project financing.
Traditionally, Islamic financiers have encountered a number of commercial and liquidity challenges associated with the high debt to equity ratios of infrastructure projects and the project durations themselves, which can take as long as 30 years to complete…………………………………….Full Article: Source

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Islamic finance the key to Indonesia infrastructure plans http://www.opalesque.com/IslamicFinance_Briefing/?p=17992 http://www.opalesque.com/IslamicFinance_Briefing/?p=17992#comments Fri, 14 Sep 2012 01:45:35 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17992 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17992>Article Link</a> Indonesia can fully facilitate its plans for enhancing infrastructure if it were to utilise Islamic financial instruments which can help to further boost the economy and increase economic stability in the country.
Standard and Poors the leading company stated in a report that Islamic finance was the perfect option for Indonesia in materializing its infrastructure plans.S&P credit analyst, Allan Redimerio, stated, “We believe Indonesia can emulate Malaysia’s success thus far in utilizing Islamic finance for infrastructure development. This is due to Indonesia’s large infrastructure development needs, the government’s willingness to attract private capital to fund these investments, and the rising demand for investable assets of a growing domestic Islamic finance market.”……………………………………Full Article: Source

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S&P sees growing use of GCC-Asia Sukuk to fund infrastructure http://www.opalesque.com/IslamicFinance_Briefing/?p=17972 http://www.opalesque.com/IslamicFinance_Briefing/?p=17972#comments Thu, 13 Sep 2012 00:30:01 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17972 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17972>Article Link</a> Several recent landmark corporate and infrastructure sukuk by companies in the Gulf Cooperation Council (GCC) issuing in Malaysian ringgit may signal the start of a trend that could help develop and globalize the market, Standard & Poor’s Ratings Services said in a report published today, “Beyond Borders: The GCC And Asia Could Rev Up Their Economies–And The Islamic Finance Market.”
In an era when the world’s conventional banks are producing fewer and shorter loans and companies are considering other options for finance, Standard & Poor’s believes that Islamic financial instruments could become a key funding source, especially in the GCC countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates) and Asia………………………………………..Full Article: Source

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Sukuk a key funding source for GCC, Asia infrastructure projects http://www.opalesque.com/IslamicFinance_Briefing/?p=17971 http://www.opalesque.com/IslamicFinance_Briefing/?p=17971#comments Thu, 13 Sep 2012 00:29:46 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17971 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17971>Article Link</a> In an era when the world’s conventional banks are producing fewer and shorter loans and companies are considering other options for finance, Standard & Poor’s believes that Islamic financial instruments could become a key funding source, especially in the Gulf Cooperation Council (GCC) countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates) and Asia.
These regions, with established Islamic financial regulatory bodies, are centers of the growing estimated $1 trillion market. At the same time, Asia and the GCC are seeking huge amounts of capital to pay for their soaring needs for new infrastructure………………………………………..Full Article: Source

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Takaful Malaysia a step closer to property investments in UK http://www.opalesque.com/IslamicFinance_Briefing/?p=17924 http://www.opalesque.com/IslamicFinance_Briefing/?p=17924#comments Tue, 11 Sep 2012 00:19:59 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17924 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17924>Article Link</a> Syarikat Takaful Malaysia Bhd, a provider of general and family takaful, is on the threshold of investing in properties in the UK due to its better structured property leases and higher returns compared to similar investments locally.
The company is now a step closer towards setting up a wholly-owned subsidiary in Labuan International Offshore Financial Centre that will act as a special-purpose vehicle (SPV) to handle its overseas property investment………………………………………..Full Article: Source

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Takaful Malaysia eyes UK property investments http://www.opalesque.com/IslamicFinance_Briefing/?p=17914 http://www.opalesque.com/IslamicFinance_Briefing/?p=17914#comments Mon, 10 Sep 2012 01:28:37 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17914 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17914>Article Link</a> Syarikat Takaful Malaysia Bhd, a provider of general and family takaful, is on the threshold of investing in properties in the UK due to its better structured property leases and higher returns compared to similar investments locally.
The company is now a step closer towards setting up a wholly-owned subsidiary in Labuan International Offshore Financial Centre that will act as a special-purpose vehicle (SPV) to handle its overseas property investment………………………………………..Full Article: Source

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Islamic banking drives MBSB 1H profits http://www.opalesque.com/IslamicFinance_Briefing/?p=17888 http://www.opalesque.com/IslamicFinance_Briefing/?p=17888#comments Thu, 06 Sep 2012 23:49:59 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17888 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17888>Article Link</a> Malaysian Building Society Berhad (MBSB) posted strong growth with a pre-tax profit of RM233 million, an increase of 18 per cent or RM36 million from RM197 million for the same period last year. The improved financial results were mainly due to the increase in net income from Islamic banking operations especially in the retail segment.
“The growth in revenue from the retail segment is mostly attributed to the good response from customers towards MBSB’s personal-financing-i “transfer package” launched early this year and extended into the second quarter which enabled customers to refinance their borrowings with our lower costs of personal financing-i and at a 100 percent disbursement payout,” said Datuk Ahmad Zaini Othman, MBSB’s President and Chief Executive Officer recently………………………………………..Full Article: Source

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Islamic finance to support infrastructure sector in Indonesia http://www.opalesque.com/IslamicFinance_Briefing/?p=17878 http://www.opalesque.com/IslamicFinance_Briefing/?p=17878#comments Thu, 06 Sep 2012 00:22:05 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17878 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17878>Article Link</a> It has been reported that Indonesia could utilize the potential of Islamic finance to fulfil its ambitious infrastructure plans, Standard & Poor’s said in a report.
The poor state of infrastructure is hindering the growth of Southeast Asia’s largest economy, the report said, while noting that the government is planning to spend more than $200 billion through 2014 to upgrade and expand infrastructure……………………………………..Full Article: Source

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The compatibility of real estate and Islamic banking: Omanis take advantage of new opportunities http://www.opalesque.com/IslamicFinance_Briefing/?p=17870 http://www.opalesque.com/IslamicFinance_Briefing/?p=17870#comments Thu, 06 Sep 2012 00:19:47 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17870 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17870>Article Link</a> The decision to licence the operation of the Islamic banking in the Sultanate has opened up windows of opportunities for the banking sector in Oman, writes Philip Paul, Head of Agency for Cluttons Oman.
The successful launch of Bank Nizwa, an exclusive Islamic bank and the opening of Islamic banking operations windows within conventional banks is evidence that the banks plan to capitalise on the opportunities presented by the new industry and meeting the increasing demand for Shari’ah-compliant finance……………………………………..Full Article: Source

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Saudi home loans almost double amid new law impetus http://www.opalesque.com/IslamicFinance_Briefing/?p=17841 http://www.opalesque.com/IslamicFinance_Briefing/?p=17841#comments Mon, 03 Sep 2012 23:38:05 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17841 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17841>Article Link</a> Saudi Arabian home lending grew at the fastest pace in at least four years in the second quarter, evidence that banks in the largest Arab economy are more willing to take risk as the nation’s mortgage law comes into effect.
Mortgage lending jumped 83 per cent to 48 billion riyals (Dh47 billion) from the year-earlier period, the highest on record according to central bank data. In the United Arab Emirates, home loans by banks grew less than one per cent in the year to March, while credit to Qatar’s real estate industry rose 34 per cent in the second quarter, central bank data show…………………………………………Full Article: Source

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Indonesia: Islamic finance could support infrastructure sector - S&P http://www.opalesque.com/IslamicFinance_Briefing/?p=17798 http://www.opalesque.com/IslamicFinance_Briefing/?p=17798#comments Wed, 29 Aug 2012 01:14:42 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17798 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17798>Article Link</a> post thumbnail

Allan RedimerioIndonesia could utilize the potential of Islamic finance to fulfil its ambitious infrastructure plans, Standard & Poor’s said in a report on Tuesday. The poor state of infrastructure is hindering the growth of Southeast Asia’s largest economy, the report said, while noting that the government is planning to spend more than $200 billion through 2014 to upgrade and expand infrastructure.
It also noted that most infrastructure projects are backed by the private sector while the government is considering various financing alternatives to fund the rest………………………………………..Full Article: Source

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Turkey’s İş REIT signs $50 million syndicated Murabaha facility http://www.opalesque.com/IslamicFinance_Briefing/?p=17769 http://www.opalesque.com/IslamicFinance_Briefing/?p=17769#comments Tue, 28 Aug 2012 00:47:42 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17769 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17769>Article Link</a> Istanbul-based İş Gayrimenkul Yatırım Ortaklığı A.Ş (İş REIT) has signed a $50 million Murabaha facility with a syndicate of banks from the GCC. The facility carries a tenor of two years and a profit rate of LIBOR +250 bps.
QInvest acted as Sole Bookrunner and Structuring Advisor to İş REIT. Qatar Islamic Bank was the Initial Mandated Lead Arranger and is also acting as the Investment Agent with Barwa Bank, First Gulf Bank, Mashreq Bank taking the Mandate Lead Arranger roles………………………………………..Full Article: Source

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QInvest advises Turkey REIT on $50mn ‘murabaha’ finance facility http://www.opalesque.com/IslamicFinance_Briefing/?p=17768 http://www.opalesque.com/IslamicFinance_Briefing/?p=17768#comments Tue, 28 Aug 2012 00:47:26 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17768 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17768>Article Link</a> QInvest has advised a Turkey-based Real Estate Investment Trust (REIT) on the latter’s $50mn syndicated ‘murabaha’ finance facility.
QInvest acted as sole book runner and structuring advisor to İş Gayrimenkul Yatırım Ortaklığı (İş REIT), which entered into a financing agreement with a syndicate of banks from the Gulf Cooperation Council (GCC). The finance facility carries tenure of two years and a profit rate of Libor +250 basis points………………………………………..Full Article: Source

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Nakilat closes $380mln Islamic financing with QIB and QIIB http://www.opalesque.com/IslamicFinance_Briefing/?p=17709 http://www.opalesque.com/IslamicFinance_Briefing/?p=17709#comments Mon, 20 Aug 2012 01:10:18 +0000 Laxman http://www.opalesque.com/IslamicFinance_Briefing/?p=17709 <br> <a href=http://www.opalesque.com/IslamicFinance_Briefing/?p=17709>Article Link</a> Qatar Gas Transport Company (Nakilat) has successfully closed $380 million of Islamic Murabaha financing with Qatar International Islamic Bank (QIIB) and Qatar Islamic Bank (QIB).
The joint arrangement is a big leap forward in enhancing co-operation between these two Islamic finance institutions, as the market demand for Shari’ah-compliant financial solutions continues to increase. QIB provided $180 million of Nakilat’s financing tranche, with QIIB providing the remaining $200 million. The signing ceremony was held at QIB’s headquarters………………………………………..Full Article: Source

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