The report of the total amount of issuance bonds and Sukuk in the Gulf Cooperations countries shows that 37.20 percent increase in 2015 from the previous year 2014 and a large part of the increase is attributable to the Saudi Arabian sovereign issuances.
- Kuwait: One of the largest law firms in the Middle East Al-Tamimi & Company acted as legal counsel for Boubyan Kuwaiti Islamic Bank in its issuance of Sukuk worth $250 million. The Sukuk issue by the bank to enhance Tier 1 Capital. more
- Dubai: The leading enabler of global trade DP World issue $1.2 billion Sukuk. The issue will be used to fund the part-repurchase of DP World’s $1.5 billion Sukuk which is due to mature in 2017 The new $1.2 billion Sukuk would sufficiently cover this revised plan.
- Dubai-based Emirates Islamic Bank launched five years Sukuk $750 million.
- Dubai-based Noor Bank has launched a $500 million capital-boosting Sukuk issue of five years duration.
- Saudi Arabia: Saudi Arabia has joined Turkey, Indonesia and the Jeddah-based Islamic Development Bank (IDB) for the establishment of two regional Islamic banks based in Istanbul and Jakarta. The new entities could be operational as early as next year. more
- Bahrain: As a step to increase the value of the bank GFH Financial Group plans to list Khaleeji Commercial Bank on (DFM) Dubai Financial Market this will help to offer fee-based financial services and diversify revenue base.
- Turkey: Turkish regulators set a June 23 deadline for bids in the sale of seized Islamic lender Bank Asya on Tuesday the latest in a government crackdown on companies affiliated with a prominent foe of President Tayyip Erdogan. more
- Malaysia: 1 billion ringgit ($243.4 million)Sukuk will set up by Bank Muamalat. Bank Muamalat’s new Sukuk programme has loss-absorption features to meet Basel III criteria, qualifying as Tier 2 capital rating agency RAM Ratings said in a regulatory filing.
(EBCTV)
