Posts tagged as: Sukuk

DAC Beachcroft | Islamic Insurance at the Crossroads

DAC Beachcroft | Islamic Insurance at the Crossroads

The Inland Revenue and Stamp Duty Legislation (Alternative Bond Schemes) (Amendment) Ordinance is a new piece of legislation, introduced in Hong Kong. This law, which puts the taxation of sukuk on a level footing with conventional bonds in Hong Kong, m…

Private sector drives GCC debt issuance in first half of 2013

Private sector drives GCC debt issuance in first half of 2013

The stock of outstanding GCC fixed income instruments rose to $239.8 billion in the first six months of this year. The largest debtors are the Qatari public sector (23 per cent), the UAE financial sector (16 per cent) and the UAE public sector (15 per …

Finance minister: Laws and regulations governing Islamic Bonds set to continue

Finance minister: Laws and regulations governing Islamic Bonds set to continue

<p>Laws, legislative rules and regulations governing Islamic bonds will be implemented as planned, as part of government efforts to revive the economy, according to Egyptian Finance Minister Ahmed Galal. However, he refused to say who would assume the role of Chairman of the Islamic Bonds Division within the ministry, after the sacking of previous chairman Ahmed Al-Nagar. Ahmed Al-Gabali, Advisor to the Minister on Islamic Bonds, is reportedly interested in the position but will need to be made aware of the nature of the job before applying. Galal previously published a decision to dispose of a number of legal advisors and chairmen of financial units due to their affiliation with the Muslim Brotherhood, among them Ahmed Al-Nagar, previous Chairman of the Ministry of Finance&rsquo;s Islamic Bonds Divisi&oacute;n.</p>
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<p><a href="http://www.dailynewsegypt.com/2013/08/12/finance-minister-laws-and-regulations-governing-islamic-bonds-set-to-continue/" title="http://www.dailynewsegypt.com/2013/08/12/finance-minister-laws-and-regulations-governing-islamic-bonds-set-to-continue/">http://www.dailynewsegypt.com/2013/08/12/finance-minister-laws-and-regul…</a></p>
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Islamic bonds set for new heights

Islamic bonds set for new heights

<p>The global sukuk market is poised for a record-breaking year, according to Standard Chartered Saadiq's chief executive officer Wasim Saufi. Standard Chartered expects demand for Islamic bonds to help push sales to levels unseen before this year although Islamic bond sales fell by as much as 11 per cent for the first six months of the year. Wasim said several issuances are in the pipeline, including a few being evaluated for dollar sukuk to be issued by Malaysian companies. One that is in the pipeline is Khazanah Nasional&rsquo;s sale of US$1 billion of convertible Islamic bonds. Ernst &amp; Young LLP in a December 2012 report predicted that the global demand for sukuk will reach US$950 billion by 2017. According to Bloomberg-compiled data, global sukuk sales hit US$18.8 billion in the first half of the year.</p>
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<p><a href="http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Article/index_html" title="http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Article/index_html">http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Art…</a></p>
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Islamic bonds set for new heights

Islamic bonds set for new heights

<p>The global sukuk market is poised for a record-breaking year, according to Standard Chartered Saadiq's chief executive officer Wasim Saufi. Standard Chartered expects demand for Islamic bonds to help push sales to levels unseen before this year although Islamic bond sales fell by as much as 11 per cent for the first six months of the year. Wasim said several issuances are in the pipeline, including a few being evaluated for dollar sukuk to be issued by Malaysian companies. One that is in the pipeline is Khazanah Nasional&rsquo;s sale of US$1 billion of convertible Islamic bonds. Ernst &amp; Young LLP in a December 2012 report predicted that the global demand for sukuk will reach US$950 billion by 2017. According to Bloomberg-compiled data, global sukuk sales hit US$18.8 billion in the first half of the year.</p>
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<div>Source:&nbsp;</div>
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<p><a href="http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Article/index_html" title="http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Article/index_html">http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Art…</a></p>
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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…

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…

IILM to issue debut sukuk of USD490m in August

IILM to issue debut sukuk of USD490m in August

Malaysia-based International Islamic Liquidity Management Corp (IILM) will issue its long-awaited sukuk programme worth $490 million (RM1.6 million) this month, offering tenors of three months. The dollar-denominated sukuk programme, rated "A-1" by S&amp;a…

Almarai plans hybrid sukuk

Almarai plans hybrid sukuk

Saudi Arabian dairy producer Almarai Co. has chosen four banks to arrange the sale of a hybrid sukuk. The firm has mandated the investment banking arm of Banque Saudi Fransi, BNP Paribas, HSBC's Saudi Arabian unit and Standard Chartered to arrange the …

Tunisia approves the use of Islamic bonds, sukuk

Tunisia approves the use of Islamic bonds, sukuk

The NCA approved a bill that will legalize Islamic bonds or Sukuk on last Wednesday. The voting came out with a smashing majority of 102 votes against 3. The new law is likely to stimulate investments coming from the rich region of the Gulf and and clo…

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