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Nigeria Sukuk debut targets Shariah hub roleFrom Bloomberg: Nigeria, Africa’s second-largest economy and home to 75 million Muslims, plans to sell its first Islamic debt within 12 months as part of a bid to become the continent’s center for Shariah-compliant financing. (more...) Email Add Comments More stories about: Bonds (Sukuk), Emerging Trends
Nakheel plans $1.6 bln Sukuk, part of debt planFrom Reuters: Property developer Nakheel NAKHD.UL plans to issue a 6 billion dirham ($1.63 billion) Islamic bond as part of its debt repayment plan as it restarts several key projects, an industry executive said on Tuesday. (more...) Email Add Comments More stories about: Bonds (Sukuk), New Launches
Dubai said to raise $1 bln in 2 part 5 to 10-year bond saleFrom Bloomberg: Dubai may raise $1 billion in a two-part bond sale in its first sovereign issue since the Dubai World credit crisis, according to a banker and an investor involved in the deal. The Persian Gulf financial hub’s 5-year, $500-million issue may be priced to yield about 6.75 percent, according to the people with knowledge of transaction. (more...) Email Add Comments More stories about: Bonds (Sukuk), New Launches
Dubai bond size may exceed $1blnFrom Khaleejtimes.com: With Dubai all geared up for the dual-tranche Eurobond sale, the size of the order book was estimated to exceed $1 billion by sources at lead managers. On Monday, Dubai mandated HSBC, Deutsche and Standard Chartered to lead the dollar-denominated bond, the first since last year’s debt crisis. (more...) Email Add Comments More stories about: Bonds (Sukuk)
Dubai, Qatar's QIB revive Gulf debt salesFrom Arabianbusiness.com: The Dubai government and Qatar Islamic Bank are among issuers leading the biggest Arabian Gulf borrowing push since the fourth quarter, a sign Dubai World’s debt restructuring is reviving confidence in the region. (more...) Email Add Comments More stories about: Bonds (Sukuk), Emerging Trends
Soaring SukukFrom Zawya.com: According to KFH Research and NCB Capital, there seemed to be a recovery in the growth of the total value of Sukuk issuance in 2009 and during the first half of this year. KFH's report predicts that global Sukuk issuance will reach $30 billion in 2010 in light of the recovery in global economic activity and the increase of Sovereign Wealth Funds (SWFs), companies, and the revival of private sector projects. (more...) Email Add Comments More stories about: Bonds (Sukuk), Performance, Research
Indonesia aims for $111.8 mln at Oct 5 sukuk auctionFrom Reuters: Indonesia's debt office said on Tuesday it aimed to raise 1 trillion rupiah ($111.8 million) at its auction of sukuk, or Islamic debt, scheduled for October 5. (more...) Email Add Comments More stories about: Bonds (Sukuk), New Launches
Malaysia: Call to exploit Islamic finance expertiseFrom Btimes.com.my: Malaysia should make use of its Islamic finance expertise to attract more foreign direct investments (FDIs). "The outlook in Malaysia is very optimistic with vast opportunities for investment. I believe Malaysia is on the right track," said Mary Buffett, the former daughter-in-law of famous investor Warren Buffett. (more...) Email Add Comments More stories about: Emerging Trends, Finance
Malaysia can take lead in improving Islamic financeFrom Thestar.com.my: Malaysia, as a leader and innovator in Islamic finance, can do more in exploring the Islamic principles to create a more cohesive financial system, says Dr Armen V Papazian, fellow of the Judge Business School, University of Cambridge, England. (more...) Email Add Comments More stories about: Finance, Market Moves
Islamic answers to SME finance needsFrom Zawya.com: With both the value of the SME and the Islamic finance sectors predicted to skyrocket over the next few years, it's not surprising that the two have successfully intertwined in the GCC region. Isla MacFarlane reviews the most recent offerings for Shari'ah-compliant SME financing (more...) Email Add Comments More stories about: Finance, Market Moves
New key AAOIFI standards: Contemplation option, defects option and honesty optionThe Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the leading international organization that formulates and publishes accounting, auditing, ethics, governance, and Shari'a standards for the Islamic banking and finance industry, issued three new Shari'a standards, namely "Contemplation Option", "Defects Option" and "Honesty Option". (more...) Email Add Comments More stories about: Accounting and Audit, Compliance, Tax, Legal, Regulatory
Standard Chartered Bank launches first Islamic US dollar nostro accountFrom Cpifinancial.net: Standard Chartered Bank has announced the launch of the first Islamic US Dollar Nostro1 Account in the US. The facility will operate on the Islamic finance principle of Commodity Murabaha. Profits will be paid on a monthly basis. (more...) Email Add Comments More stories about: Banking, New Launches
Islamic banking: Standard Chartered launches awareness driveFrom Brecorder.com: Standard Chartered has launched an Islamic banking awareness campaign under its global Islamic brand 'Saadiq'. Saadiq, which means 'truthful', is Standard Chartered's identity for our global Islamic banking business. (more...) Email Add Comments More stories about: Banking, Market Moves
Islamic banker 's call for 'responsible spending'From Gulfweeklyworldwide.com: A senior Bahraini Sharia scholar and an Islamic banker has urged people to take a more responsible view of spending and to resist what he described as a growing culture of consumerism. (more...) Email Add Comments More stories about: Banking, People
Tamweel begins to take back propertiesFrom Thenational.ae: Tamweel, one of the country’s biggest Islamic mortgage providers, has started to repossess defaulted properties and intends to apply much stricter rules when it starts lending again. (more...) Email Add Comments More stories about: Financial Instruments (Credit Cards, Debts, Loans, Mort, Insurance (Takaful), Property, Projects, Infrastructure
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