Tagged: Murabaha

Barwa Bank joint lead manager for ABT sukuk

Barwa Bank joint lead manager for ABT sukuk

Barwa Bank has acted as joint lead manager on Albaraka Turk Participation Bank’s (ABT) $200m Tier 2 sukuk. This transaction represents the first Sukuk Murabaha transaction issued in the international capital markets from Turkey. Barwa Bank has been inv…

GFH receives nod to restructure WestLB facility

GFH receives nod to restructure WestLB facility

Bahrain-based Islamic investment bank, Gulf Finance House (GFH) has secured approvals from 32 syndicates for the restructuring of WestLB Murabaha facility. GFH also obtained approval from its sukuk holders to restructure its outstanding debt amounting …

DMCC Tradeflow launches electronic Commodity Murabaha trading platform

DMCC Tradeflow launches electronic Commodity Murabaha trading platform

Dubai Multi Commodities Centre (DMCC) has announced the inaugural Commodity Murabaha transaction on its DMCC Tradeflow platform. The transaction took place between Noor Islamic Bank and Commercial Bank of Dubai, marking the official launch of the DMCC Tradeflow Islamic product portfolio. According to Ahmed Bin Sulayem, Executive Chairman, DMCC, the DMCC Tradeflow pioneered the use of an electronic central registry of commodity ownership in Dubai. The commodities available on DMCC Tradeflow include oil products, foodstuffs and base metals and if required these goods can be inspected easily by Shari’ah scholars.

Egypt farm bank launching retail Islamic services

Egypt farm bank launching retail Islamic services

Egypt’s Principal Bank for Development and Agricultural Credit (PBDAC) is launching sharia-compliant retail banking services this month to meet increasing demand in rural areas. According to Abdel Rahman Al Kafrawi, head of Islamic transactions at PBDA…

Al Jazeera Finance inks $95m syndicated facility

Al Jazeera Finance inks $95m syndicated facility

Al Jazeera Finance (AJF) has signed a $95m (QR345.8m) 3-year dual currency Murabaha facility with a syndicate of banks from the GCC. QInvest acted as sole bookrunner and structuring adviser to AJF. Qatar Islamic Bank took the Mandate Lead Arranger (MLA…

New liquidity tool needed for M’sian Islamic banks

New liquidity tool needed for M’sian Islamic banks

As a global leader in the field of Islamic finance, Malaysia boasts with state-of-the-art infrastructure and unparalleled government support. The development of Commodity Murabaha (CM) transactions on Bursa Malaysia under its Bursa Suq Al Sila’ enabled the country to try to snatch away the business of liquidity management by Islamic banks from the London Metal Exchange (LME). Bursa Malaysia’s Suq Al Sila’ is a representation of trading in commodities with complete irrelevance of commodities to the intended outcome. This exceeds simple exchange of cash between two participating banks.