• Saudi National Bank launches US dollar-denominated sukuk

    RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified investors inside and outside Saudi Arabia.  The amount and terms of offer of the sukuk will be determined subject to market conditions, the bank said in a statement to Tadawul.   This announcement...
  • Qatar Central Bank issues treasury bills, sukuk worth US$686m

    DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three months, six months and nine months totaling US$686 million (QR 2.5 billion). In a statement posted on the social media platform "X" on Thursday, QCB said that the issuance was...
  • UAE plans to issue bonds, Sukuk valued at $1.3bn in Q1 2024, says official

    HONG KONG - UAE Ministry of Finance Undersecretary Younis Haji Al Khoori announced that the ministry's issuance of bonds and Sukuk in 2023 totaled around $2 billion (AED7.7 billion). For Q1 2024, the ministry is planning to issue bonds and Sukuk valued at US$1.3 billion (AED5 billion), he said. Speaking...
  • Estithmar sets up issuance program

    The Group said the program is valued at $933 million.
  • FAB issues first Sukuk globally in 2024

    ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps, which resulted in an all-in yield of 4.779 percent. This marks the first Sukuk issued globally in 2024 and stands as the region's first offering for the year. The final...
  • CBB Sukuk Al Salam securities oversubscribed by 372%

    Manama, Bahrain--The Central Bank of Bahrain (CBB) announced that the monthly issue of the Sukuk Al Salam Islamic securities has been oversubscribed by 372%. Subscriptions worth $426 million were received for the $114.36 million issue, which carries maturity of 91 days. The expected return on the issue, which begins on...
  • GIB, KSA wrap up Sukuk debut

    Gulf International Bank is a merchant bank in the Middle East
  • Nasdaq Dubai lists Philippines ‘ROP Sukuk Trust’ worth US$1bn

    Dubai, UAE--Nasdaq Dubai has welcomed the first Sukuk listing by the Republic of the Philippines, "ROP Sukuk Trust", underscoring the exchange's reputation as the preferred choice for sovereign issuances. The Republic of the Philippines has chosen Nasdaq Dubai to list its maiden sukuk worth US$1 billion of Trust Certificates due...
  • UAE green bonds and sukuk issuances touch US$4.20bn

    According to Mohamed Ali Al Shorafa, Chairman of the SCA Board, the issuance of green bonds and Sukuk is one of the transformational projects in supporting the UAE efforts to make it the new economic hub for the next ten years, and regulating the issuance of these green bonds was...
  • Saudi PIF secures $5 billion financing in collaboration with K-SURE

    Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Korea Trade Insurance Corporation (K-SURE) have announced the signing of a financing agreement through which PIF has raised a term loan from a syndicate of nine top international lenders that will be covered by K-SURE. The financing carries a door-to-door...
  • Bank of Sharjah joint lead manager for $350m Ittihad sukuk

    SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million 144A/Reg S senior unsecured sukuk for Abu Dhabi-based Ittihad International Investment LLC, alongside other international and regional banks. In response to the successful closure of this transaction, Mohamed Khadiri, CEO...
  • UAE holds 19% of global sustainable bonds, says Fitch Ratings

    DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region and steering investment and financial requirements towards a more environmentally responsible approach. Bashar Al-Natoor, Global Head of Islamic Finance and Managing Director at Fitch Ratings, expressed optimism...
  • NBM’s board approves increasing Murabaha sukuk issue to $133m

    RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk issue from US$26 million (SAR 100 million) to US$133 million (SAR 500 million).  The move aims to boost the company's capital expansions and working capital, the company said in a...
  • ADIB lists $500m green sukuk on LSE

    The bank marked the issuance of its $500 million green sukuk.
  • ADIB issues green sukuk

    The final orderbook of the green sukuk closed at $2.6 billion.
  • ACWA Power 9M net profit up 22%

    The company said higher operating income was the main driver.
  • PIF announces pricing of inaugural $3.5bn global sukuk issue

    RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) on Thursday successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk). The total amount of the issuance is $3.5 billion, consisting of two tranches - a $2.25 billion, 5 years sukuk maturing in 2028 and a $1.25 billion, 10 years sukuk...
  • Dollar sukuk activity for 2023 on course to outpace 2022: Fitch

    Dubai, UAE: US dollar sukuk issuance for 2023 is on course to outpace 2022 due to funding needs and diversification strategies, Fitch Ratings said in a new report. However, the third quarter sukuk issuance in all currencies ($51.7 billion equivalent) issued in core markets was 12.3 percent lower YoY, while bond...
  • Tadawul’s sukuk, bonds market sees $3.4bn negotiated deals in first 9 months of 2023

    RIYADH, SAUDI ARABIA – The Saudi Exchange's (Tadawul) sukuk and bonds market witnessed 74 negotiated deals worth nearly SAR 12.77 billion in the first nine months of 2023. March recorded the highest number and value of deals, as 18 transactions were executed at a total value of US$853 million. KSA...
  • ADIB completes $750m sukuk redemption

    The sukuk, issued on Sept 20, 2018, carried profit rate of 7.125%.
  • QFCA, QSE sign agreement with Malaysian firm to advance bonds and sukuk

    Doha, Qatar--The Qatar Financial Centre Authority (QFCA), Qatar Stock Exchange and Malaysian Rating Corporation Berhad (MARC) have entered into a memorandum of collaboration (MoC) to pursue a range of strategic initiatives aimed at advancing the financial landscape with a specific emphasis on bonds and Sukuk The scope of the collaboration...
  • Bahrain Central Bank’s Sukuk Al Salam oversubscribed 319%

    Manama, Bahrain - The Central Bank of Bahrain (CBB) has said its monthly issue of the Sukuk Al-Salam Islamic securities has been oversubscribed by 319 percent. Subscriptions worth BD 137.151 million ($364m) were received for the BD 43 million ($114m) issue, which carries a maturity of 91 days. The expected...
  • KIB posts $19.5m net profit

    The bank's total operating income reached approximately $115 million.
  • Saudi Arabia’s NDMC issues local sukuk worth US$9.57 billion

    Riyadh, Saudi Arabia--The Saudi National Debt Management Center (NDMC) has issued new sukuk worth $9.57 billion under the Local Saudi Sukuk Issuance Program, in addition to an early purchase of more than $9.52 billion. In a statement carried by the Saudi Press Agency (SPA), NDMC outlined that such a step...
  • Global outstanding sukuk cross $800bn for first time: Fitch Ratings

    Sovereigns were the key issuers. Fitch said the pricing of most sukuk and comparable bonds continued to be similar and highly correlated in the first half of 2023. This trend is likely to persist.
  • DIB H1 2023 net profit $844m  

    Profit driven by core revenues, effective cost management.
  • Almarai trust certificates raise $750m

    The dollar-denominated certificates have annual return of 5.23%.
  • Dar Al Arkan issues sukuk of $600m

    issuance is the ninth tranche Sukuk program in US dollars.
  • Rise in foreign sukuk offset by local currency decline

    Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a surge in foreign currency issuances, says a report.
  • Rise in foreign sukuk offset by local currency decline

    Saudi Arabia's reduced banking liquidity and lower oil prices have led to a decline in local currency sukuk, but a surge in foreign currency issuances, says a report.
  • ADIB raises $750 million in dollar-denominated tier-one sukuk

    Dubai, UAE -- Abu Dhabi Islamic Bank (ADIB) has raised $750 million in the world’s first dollar denominated additional tier-one (AT1) perpetual sukuk issued since March 2023. ADIB, which is rated A2 by Moody’s and A+ by Fitch, in each case with a stable outlook, priced the perpetual non-call, five...
  • Availability of government sukuks boosts investment options for Islamic banks: Fitch

    Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management and investment options for Islamic banks, according to a report from Fitch Ratings. In a report issued today, it indicated that its review of its future expectations for three Qatari...
  • Arada’s US$500m Sukuk lists in Nasdaq Dubai

    DUBAI, UAE -  Arada's US$500 million Sukuk was listed in Nasdaq Dubai. The Sukuk is the first issuance by Arada on the region’s international financial exchange, further solidifying Dubai’s position as one of the largest Sukuk listing venues globally, with a total value of US$77 billion. To celebrate the successful...
  • SCA to waive off registration fee for listing of green bonds, sukuk in local market

    Abu Dhabi, UAE--The Securities and Commodities Authority (SCA) board of birectors has approved a proposal to exempt companies wishing to list their green or sustainability-linked bonds or sukuk in a local market from registration fees for the year 2023. The decision aims to highlight the actions taken by the UAE...
  • PIF-owned SRC completes $933m sukuk

    The issue is part of the SAR 20 billion local sukuk program.
  • Bahrain central bank’s sukuk oversubscribed by 403 percent

    Manama, Bahrain -- The Central Bank of Bahrain (CBB) announced that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al Ijara, has been oversubscribed by 403 percent. Subscriptions worth BD 104.778 million ($277 million) were received for the BD 26 million issue, which carries a maturity of 182...
  • Saudi CMA cancels its share in sukuk, bonds trading commission

    Riyadh, Saudi Arabia--The Capital Market Authority (CMA) has announced the cancelation of its share in sukuk and bonds trading commission from May 2023 onwards. The measure is intended to reduce costs on market participants in a way that enhances liquidity, increases competitiveness in the local market and expands domestic investors'...
  • Emirates NBD arranges Al Rajhi’s US$1bn inaugural Sukuk

    Dubai, UAE--Emirates NBD has successfully priced a US$1 billion Senior Unsecured Sustainable Sukuk for Al Rajhi Bank, the world’s largest Islamic bank by assets and market capitalization. The five-year Sukuk which was priced at a reoffer yield of 4.774 percent generated strong demand, attracting orders of over US$3.75 billion. The...
  • SEC to raise $2bn from sukuk

    The firm announced 10-year and 30-year tranches.
  • Al Rajhi to issue sukuk

    The sukuk terms will be determined as per market conditions.
  • Emirates NBD arranges sukuk

    The inaugural $600m sukuk saw orders of over $2.2 billion.
  • Qatar Central Bank issues $274 million treasury bills for a week

    Doha, Qatar-- Qatar Central Bank (QCB) issued treasury bills worth QR 1 billion ($274 million) for a one-week term in February, due on March 2, at an interest rate of 5.0050 percent. QCB had issued treasury bills worth QR 3 billion for a one-week term in February. The auction is...
  • Egypt looks to raise US$1.5bn with sukuk at 11% yield

    Cairo, Egypt--Egypt has set an initial yield of 11.625 percent for the sale of its three-year, dollar-denominated sukuk on Tuesday as part of the country’s measures to defuse its foreign exchange crisis. The sukuk will be of benchmark size or in the range of $500 million. Egypt’s finance minister Mohamed...
  • DIB raises $1bn from sukuk

    It had raised $750m through the sale of its debut sukuk in Nov 2022.
  • Saudi Arabia’s Al Rajhi bank reports a net profit of $4.58 bn in 2022

    The net profit was up 16 percent from $3.92 billion in 2021.
  • UAE’s largest bank issues $600 million bond, second in 2023

    Abu Dhabi, UAE---The First Abu Dhabi Bank, UAE’s largest bank, has issued a 5.25-year $600 million bond at US Treasury, which resulted in an all-in yield of 4.514 percent, on 19 January 2023. This marks FAB’s second dollar issuance in a space of 10 days following the $500 million RegS...
  • Dubai Islamic Bank lists sukuk

    The bank listed the sustainable sukuk on Nasdaq Dubai.
  • COP27: ACG to give $24bn for climate action by 2030

    The fund will support the acceleration of the energy transition, the increased resilience of food, transport, water and urban systems, and the promotion of energy security.
  • UAE’s climate initiatives to benefit private sector

    The Gulf country will reveal the mechanisms for implementing its strategic initiative to achieve climate neutrality 2050, as part of its support for sustainable financing solutions for all sectors. This is alongside a comprehensive assessment of the status and movement of sustainable financing solutions, she adds.
  • Qatar Central Bank issues treasury bills, sukuk worth $1.6 billion

    Doha--The Qatar Central Bank (QCB) has issued Treasury Bills and Sukuk for periods of one week, one month, three, six and nine months worth QR 6 billion ($1.6 billion), and the auction attracted a record amount of bids totaling QR 9.75 billion. In a statement, QCB stated that the treasury...