Posts tagged as: Reuters

RPT-Fitch Assigns ATLANTICLUX’s Salam III Sukuk Programme ‚BBB-(EXP)‘ Rating

RPT-Fitch Assigns ATLANTICLUX’s Salam III Sukuk Programme ‚BBB-(EXP)‘ Rating

Fitch Ratings has assigned Salam III Limited's USD100m insurance-linked Sukuk programme an expected rating of 'BBB-(EXP)'. Fitch has also assigned a rating of 'BBB-(EXP)' to the proposed first USD20m tranche under the programme. ATLANTICLUX Lebensversi…

S&P downgrades Bahrain's Al Baraka Bank to junk status

S&P downgrades Bahrain's Al Baraka Bank to junk status

Standard & Poor's reduced Al Baraka's rating from BBB- to BB+ with a negative outlook on the back of increased sovereign and economic risk in the regions where it operates, particularly Egypt and Jordan. Operating environment and credit conditions …

IFR-Swiber's debut sukuk brings Brunei buyers to Singapore

IFR-Swiber's debut sukuk brings Brunei buyers to Singapore

Almost half of the 150 million Singapore dollar ($118 million) sukuk issued by Swiber went to investors from Brunei, helping Swiber clinch pricing that was more competitive than conventional debt. Swiber's five-year deal priced last week to yield 6.5 p…

Turkey's Bank Asya applies for sukuk issue of up to 1 bln lira

Turkey's Bank Asya applies for sukuk issue of up to 1 bln lira

Turkish Islamic lender Bank Asya said on Monday it had applied to the Capital Markets Board to issue sukuk worth up to 1 billion lira ($520 million). The bank said in a statement to the Istanbul stock exchange it had mandated its brokerage arm for the …

Pakistan adopts AAOIFI standards for investment sukuk

Pakistan adopts AAOIFI standards for investment sukuk

Pakistan's central bank has adopted the "investment sukuk" guidelines of the Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). Issuers will have to comply with this global standard for sukuk, or face penalt…

Saudi's Al Rajhi Bank posts near-flat Q2 profit

Saudi's Al Rajhi Bank posts near-flat Q2 profit

Saudi-based Al Rajhi Bank posted a slight rise in its second-quarter net profit. The bank made 2.12 billion riyals ($565.3 million) in the three months to June 30, compared with 2.09 billion riyals in the same period a year earlier. Profit for the open…

Islamic finance lobby plans regional network

Islamic finance lobby plans regional network

The General Council for Islamic Banks and Financial Institutions (CIBAFI), a Bahrain-based non-profit organisation, plans to expand beyond the Gulf, so that it can shape rules and practices in new markets as they grow. Addressing a major weakness in Is…

Kuwait Finance House says 20 pct capital increase oversubscribed

Kuwait Finance House says 20 pct capital increase oversubscribed

Kuwait Finance House (KFH said its 20 percent capital increase had been oversubscribed by shareholders, without providing specific details. The bank was raising 319 million dinars ($1.12 billion) from the sale of 639 million new shares at 0.5 dinars ea…

CORRECTED-Albaraka Turk to issue $200 mln sukuk when conditions appropriate

CORRECTED-Albaraka Turk to issue $200 mln sukuk when conditions appropriate

Bahraini lender Al Baraka Bank's Turkish unit is working on the issue of a $200 million sukuk, Al Baraka Turk general manager Fahrettin Yahsi said on Wednesday. Yahsi explained the sukuk would be issued when market conditions allowed and added that the…

Fitch Affirms HSBC Amanah Takaful at ‚A-‚; Withdraws Rating

Fitch Affirms HSBC Amanah Takaful at ‚A-‚; Withdraws Rating

Fitch Ratings has affirmed HSBC Amanah Takaful (Malaysia) Sdn Bhd's (HSBCAT) Insurer Financial Strength (IFS) rating at 'A-' with Stable Outlook and has simultaneously withdrawn the rating. The rating of HSBCAT is no longer considered by Fitch to be re…

Photo Gallery

Anmelden