Tagged: Asia

Malaysia to continue global sukuk market domination

Malaysia to continue global sukuk market domination

Malaysia is awaited to continue its strong 60% contribution to global sukuk issuance next year, supported by projects under the Economic Transformation Programme (ETP).
HSBC Amanah stated that this year a significant growth in sukuk was noticed, princi…

PIA attracts UAE lenders to $90m Islamic finance

PIA attracts UAE lenders to $90m Islamic finance

Pakistan International Airlines Corp (PIA) raised $90 million (Dh330 million) through an Islamic syndicated fin-ancing facility.
Abu Dhabi Islamic Bank, Al Hilal Bank, Citibank, and United Bank Limited organized the facility being the mandated lead arr…

Islamic banking shines

Islamic banking shines

According to Standard Chartered Saadiq, Islamic banking assets in the UAE are forseen to grow to 20 % of the total banking sector in 2012 from an estimated 18 % this year.
The bank anticipates Islamic assets to comprise 38 per cent of total consumer ba…

Shari’ah compliant funds of funds sector analysis

Shari’ah compliant funds of funds sector analysis

Despite the fact that Zawya only covers Middle East-based funds, the sector is popular especially in Saudi Arabia, where 22 of the 24 funds listed are domiciled. The other two funds are from Kuwait and Bahrain.
There are two types of multi-manager fund…

Nakheel pays Dh7.3 billion to its trade creditors

Nakheel pays Dh7.3 billion to its trade creditors

Nakheel made payments to the tune of ?Dh7.3 billion ($2 billion) to its trade creditors.
Nakheel will launch another Dh1 billion of sukuk before the end of this year as part of its Dh59 billion restructuring deal with trade creditors.
Under the company…

Islamic banks pave way for future: Al Khayyat

Islamic banks pave way for future: Al Khayyat

It seems that Islamic banking has numerous advantages and capabilities that gives it permission to play an important role in solving many economic problems in the GCC. The statement cam from Kuwait Finance House-Bahrain Chief Executive Officer and Mana…