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Islamic Finance News: Because of the fund crisis companies directed to Sukuk – Economics & Business Channel
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Islamic Finance News: Because of the fund crisis companies directed to Sukuk

التمويل الاسلامي
  • As far as the tune of the war against terrorism is expands more and more the effects over the markets coming worst than before, this is following by the low oil price and falling of the stock markets, so many of companies, banks are looking for new financial source some of them planning  to lunch Sukuk and Islamic bonds .lets have a look over the news.
  • Dubai: Dubai Islamic bank successfully lunched a five year Sukuk 500$ million dollar and its consider a very important deal this time, the banks transactions arranged by seven banks.
  • Saudi Arabia: The biggest airlines company in KSA is planing to raise 5 billion riyal (1,3$ billion dolar) Sukuk as the first time of this operation and it will be in the second quarter of this year, the fund from this issue will be used to fleet expansion as the director Saleh al-jasser has stated.
  • Kuwait: Adel Abdul Wahab al-Majed told reporters that Kuwait’s Boubyan Bank aims to issue sukuk worth $250 million before the end of April, sukuk would allow the bank to fulfill Basel III requirements and cover its capital needs until 2018 he added.
  • Turkey: The general manager of the Kuwait Turk bank in Turkey Ufuk Uyan has stated that the bank prove his performing in the local and international market in the last 10 years with continuously growth and development,also the bank record through 2015 raise to 5.1 over all other banks .The bank target to reach 50 milliar tl and the loans up to 35 milliar Turkish lira.
    The general bank of Albaraka Dr. Fahrettin Yahşi also has stated that at the end of the year 2015 the bank reach 19.5 milliar lira of loans and the bank targets to be the world’s best participation bank as we have set he said.
  • Indonesia: The Indonesian government has stated that it sold to the global markets 2.5 billion of Sukuk (Islamic bonds) and its considered the largest amount it has raised until now for the (global Sukuk)as its known.
  • Russia: The first Islamic Bank will open this month in Kazan the city capital of Tataristan which is under the Russian federations and the band will follow operate in accordance with the Islamic finance principle.

(EBCTV)