• UAE first: Islamic banking assets by 2023 end cross $190bn mark

    Abu Dhabi, UAE -- The assets of Islamic banks operating in the UAE exceeded AED 700 billion ($190 billion) for the first time in history at the end of 2023, according to the latest statistics from the Central Bank of the UAE (CBUAE). The statistics showed that the assets of...
  • Gulf Cooperation Council’s first UAE Bond ETF launched by Lunate Capital

    Abu Dhabi, UAE -- The launch of Gulf Cooperation Council's first UAE bond Exchange Traded Fund (ETF), which will list on the Abu Dhabi Securities Exchange (ADX), was announced Thursday by Lunate Capital Limited, an Abu Dhabi-based investment management firm licensed by the ADGM Financial Services Regulatory Authority (FSRA). The...
  • Doha Bank bond issue oversubscribed four times

    Doha, Qatar - Doha Bank has successfully issued $500 million in international bonds, garnering a total order book of $2 billion, marking an oversubscription of 4 times. The investor base includes prominent asset managers, banks, private banks, and insurance companies from the United States, Europe, Asia, and the Middle East....
  • Sharjah government issues 12-year bonds worth $750 million

    Sharjah, UAE -- Bank of Sharjah has acted as a joint lead manager and bookrunner in Sharjah government's issuance of a $750 million, 12-year US dollar-denominated senior unsecured sustainable bond, alongside other international and regional banks. The bond attracted significant investor interest, evidenced by an order book that exceeded $4...
  • Egypt exploring dirham, rupee bond issue: Finance Minister

    Hong Kong -- The Egyptian government is mulling over the possibility of issuing bonds for the first time denominated in Emirati dirhams, Indian rupees, and Hong Kong dollars. The move is part of the ministry's pursuit of a diversified financing strategy, encompassing multiple markets, investors and financing tools. In a...
  • 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...
  • China Construction Bank lists $600m green bond in Nasdaq Dubai

    DUBAI, UAE - Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC Branch). The green bond issuance targets combating climate change, represents China Construction Bank's significant commitment to sustainable financing and highlights the growing synergy in green financing between China and UAE....
  • BRICS to launch bonds worth US$28bn in local currencies

    Tehran, Iran-- BRICS is preparing to launch new bonds in global markets, which will be available in local currencies rather than in the US dollar The BRICS bank, known as the New Development Bank (NDB), will soon release the bonds called ‘Maharaja Bonds’ worth $28 billion, IRNA reported on Sunday...
  • Mubadala lists dollar, dirham bonds

    This is Mubadala's seventh listing of a green debt instrument on ADX.
  • Saudi Arabia’s holdings of US Treasuries up $399 million in Oct 2023

    Riyadh, Saudi Arabia -- Saudi Arabia’s holdings of US Treasuries reached $117.5 billion in October 2023, up $399 million month-on-month and the highest level since December 2022, new data released by the US Treasury showed. The Kingdom kept the 17th place among the largest holders of US Treasuries for the...
  • 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...
  • China announces $137 bn sovereign bond issuance

    Beijing, China - China announced on Tuesday a 1 trillion yuan ($137 billion) sovereign bond issuance, state media said, in a move experts say is an attempt to shore up the economy after a sluggish post-Covid recovery. The funds will be distributed to local governments to support national disaster prevention and...
  • Egypt sells MENA’s first ‘sustainable panda bonds’ in US$500m issue

    Cairo, Egypt--Egypt has issued the first sustainable Panda bonds in the Middle East and North Africa worth $500 million with a yield of 3.5% over three years, according to a statement by the Ministry of Finance. The recent bond issuance is guaranteed by international banks including the Asian Infrastructure Investment...
  • 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...
  • 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...
  • TAQA’s $1.5bn dual-tranche bonds listed on Abu Dhabi Exchange

    Abu Dhabi, UAE -- Abu Dhabi National Energy Company (TAQA's) dual-tranche $1.5 billion bonds were listed on Abu Dhabi Securities Exchange (ADX) Thursday. The five-year $500 million notes, maturing in 2029, were issued as conventional bonds with a 4.3 percent coupon, while the 10-year $1 billion tranche, maturing in 2033,...
  • 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...
  • 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.
  • Iraq’s finance and business center to be a hub for trading, selling

    BAGHDAD, IRAQ - The Finance and Business Center in Iraq is set to become a hub for trading and selling both governmental and private securities, according to the Prime Minister's financial advisor Mudhar Muhammad Salih. In an interview with the Iraqi News Agency (INA), Salih emphasized the center's role in...
  • 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...
  • Kuwait’s central bank issues US$1.05bn worth of bonds and tawarruq

    Kuwait City, Kuwait--The Central Bank of Kuwait (CBK) has announced the latest allocation of issuance of bonds and tawarruq valued at $1.05 billion. In a statement, the CBK said that the value of the first issuance amounted to KD 160 million (about USD 528 million) for three months with a...
  • 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'...
  • SEC to raise $2bn from sukuk

    The firm announced 10-year and 30-year tranches.
  • Abu Dhabi Securities Exchange appoints Emirates NBD Capital as custodian

    ABU DHABI, UAE - Abu Dhabi Securities Exchange (ADX) has appointed Emirates NBD Capital as a custodian. Emirates NBD Capital obtained its custody licence from the UAE Securities and Commodities Authority (SCA). Emirates NBD Capital is the global investment banking arm of Emirates NBD, a leading banking group in the...
  • Emirates NBD arranges sukuk

    The inaugural $600m sukuk saw orders of over $2.2 billion.
  • Bank of China lists $300m bonds

    The bank's Fitch A ratings bonds were listed on Nasdaq Dubai.
  • Qatar Central Bank’s foreign reserves surge 6.82 percent in Nov

    Doha, Qatar---The foreign currency reserves and liquidity of the Qatar Central Bank (QCB) increased by 6.82 percent to reach QR 223.985 billion ($61.51 billion) in November compared to QR 209.675 billion in November 2021. The figures issued by the QCB show the bank's official reserves increased by the end of...
  • Kuwait Central Bank Issues Bonds, Tawarruq worth $792 million

    The new securities bear a maturity term of six months and a return rate of 4.25 percent.
  • Saudi Center for Debt Management invites investors for bond repurchase

    Riyadh, Saudi Arabia---Saudi Arabia’s National Center for Debt Management announced Wednesday that it has invited investors for the first partial repurchase of US dollar-denominated bonds due in the years 2023, 2025 and 2026. The Center said the process is part of the kingdom’s plan in the effective management of the...
  • Low carbon demand spurs green sukuk growth

    With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent increase over 2020.
  • UAE treasury bonds post “exceptional” bidding results

    The fourth auction, which witnessed the first issuance of five-year T-Bonds saw a strong demand through the six primary bank dealers, with bids received worth AED 8.60b, and an oversubscription by 5.7x.
  • Saudi PIF to come out with a debut green bonds issue

    Saudi Arabia’s Public Investment Fund (PIF), the sovereign wealth fund at the heart of the kingdom’s reform plans to wean the economy off oil, will tap into international debt markets for a debut green bonds issue in a week or so.
  • Saudi’s investment funds’ assets fall by 11 percent in Q2

    Investment funds hold both local and foreign assets.
  • Kuwait central bank issues $792 bonds, tawarruq for three months

    The Central Bank of Kuwait (CBK) has issued bonds and related Tawarruq worth Kuwaiti Dinar 240 million ($792 million) payable in three months. The bank said in a statement, carried by state news agency KUNA, that the new securities have a return rate of 2.625 percent. Tawarruq is a financing...
  • Central Bank of Kuwait issues $792 million bonds

    According to a CBK statement carried by state news agency KUNA, the new securities have a return rate of 2.625 percent.
  • ADX tops Arab region in market value increase, says AMF

    The Abu Dhabi Securities Exchange was the leading Arab financial market in terms of performance last week, as its index surged by 3.6 percent, and its market value by 3.03 percent, according to the Arab Monetary Fund.
  • Egypt to issue international bonds worth $6 billion

    More than a year after it issued bonds for the Japanese market, Egypt intends to issue another tranche of international bonds worth $6 billion this year, according to media reports quoting a government official.
  • Saudi finance ministry partners with Al-Ahly to develop savings bonds

    Saudi’s Ministry of Finance and the National Center for Debt Management has partnered with Al-Ahly Financial Company to develop and launch savings bonds for individuals, and motivate them to save. This also includes discussing strategic partnerships with the private sector. The entities signed a deal regarding this, which is aimed...
  • Qatar’s central bank’s foreign currency reserves hit $58bn in July

    Qatar Central Bank’s (QCB) foreign currency reserves and liquidity increased 2.79 percent to reach QR 211.32 billion ($58bn) in July 2022. The same figures were recorded at QR 205.57 billion ($56.5bn) in July 2021. QCB on Sunday showed its official reserves, comparatively last year, increased QR 4.78 billion till July...
  • Credit businesses need to increase access to finance: EDB CEO

    Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank (EDB), has called on the local and regional banking community to increase access to corporate finance and accelerate the UAE’s economic recovery. Speaking on the opening day of Bonds, Loans & Sukuk Middle East 2022, which took place at...
  • EDB to take part in Bonds, Loans & Sukuk Middle East

    Emirates Development Bank (EDB) will participate in Bonds, Loans & Sukuk Middle East, the region’s largest gathering for the corporate and investment banking industry.
  • Russia to pay overseas debt in rubles as US exemption ends

    Russia said Wednesday that it will start paying its foreign debt in rubles after the United States ended an exemption allowing Moscow to make the payments in dollars held in Russia. The US Treasury announced Tuesday it was closing the escape clause to the drastic financial sanctions imposed on Moscow...
  • Sri Lanka declares $51 bn foreign debt as economic crisis worsens

    Sri Lanka's snowballing economic crisis began to be felt after the coronavirus pandemic torpedoed vital revenue from tourism and remittances.
  • Kuwait issues bonds, tawarruq to the tune of $792m

    The Central Bank of Kuwait has issued bonds and tawarruq for six months with an accumulated value of $792 million.
  • Saudi Arabia to issue second local sukuk for the year

    For the second time this year, the Saudi government will issue riyal-denominated sukuk for the year, seeking to take advantage of huge interest in the bonds.
  • Eight biggest GCC sovereign wealth funds

    Sovereign wealth funds across the world invest trillions of dollars into real estate, bonds and other assets. TRENDS takes a look at some of the biggest wealth funds in the Gulf region.
  • Assets of Jordan’s Social Security Investment Fund rise by JD1.1 bn in 2021

    The assets of Jordan's Social Security Investment Fund (SSIF), the investment arm of the Social Security Corporation (SSC), jumped by JD1.1 billion in 2021 to reach JD12.3 billion, according to Kholoud Saqqaf, the fund’s CEO. The figures mark a 10-percent growth year-on-year. In 2020, the fund’s assets stood at JD11.2...
  • CBK plans $794 million bonds

    The issue's maturity period is six months, with a return rate of 1.250 percent.
  • Saudi Arabia sells dual-tranche bonds for $3.25 billion

    Saudi Arabia has sold two bonds--a sukuk tranche and a conventional bond--for $3.25, the kingdom's National Debt Management Center (NDMC) has announced. The value of the first tranche is at $2 billion for a nine-and-a-half-year sukuk maturing in 2031, while the second tranche of $1.25 billion is for a 30-year...
  • Al-Ahli Bank of Kuwait net profit $69.6 mn

    The bank suffered a net loss of KD 7.9 mn in first nine months of 2020.
  • Dubai’s Emaar may raise $500 million via Islamic bonds

    The builder of the world's tallest building, Dubai's Burj Khalifa, last issued international bonds in 2019, raising $500mln via sukuk Emaar is 29.22% owned by state fund Investment Corporation of Dubai   Dubai real estate company Emaar Properties has hired banks for issuance of US dollar-denominated Islamic bonds, or sukuk,...