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Islamic Finance News: With the unstability on The Markets Islamic Finance trys to broke the ice

  • Middle East stock markets suffers from the unstability of the oil price in additons to the war flame all over the area alot of the investors run out with billions of dollar, looking for a safty atmosphere, so let have a look at the markets.
  • Bahrain: The Central bank of Bahrain announces that the subscribtions for Al-Ijara Sukuk 26 million BD has recived 38 BD millon which mean 174% oversubscribed.
  • Dubai: The Islamic bank of Dubai in cooperation with other banks like Emarites Islamic bank, Sharja Islamic Bank, HSBC to arrange meeting with the investors to work on benchmark USD SUkuk and may will follow to lunch 2,5 billion $ Sukuk.
  • Saudi Arabia: Aramco Oil Company prepare to bulid a gas treatment at Authmanya and it is expected to cost about 500$ millions dollar, as the companey plicy to keep upwith markets demands .also the rating investors service MOODY’S has revised its outlook for the Saudi Arabian banking system from stable to negative, because of the oil price affect the sectors.
  • Kuwait: The National Bank on Kuwait annouces that he is planing to sell 600 million dinar (1,99$millar dolar) a part from loans to the Kuwait national petroleum company.
    forthermore the agancy Standard & Poor’s credit rating announces that it will fix the credit rate of the Gulf Bank at the level A -A2 to the short -and long term.
  • Egypt: Farag Abdel Hamed cheaf manager of the United Bank of Egypt said that: The bank is planing to change its policy in dealing with the finance to start boost financing small and medium businesses to cover about 25% of its credit.
  • Turkey: Turkish Central Bank announces that its intention to cut rate next week, despite the fact that the inflation register high rate.
  • Malaysia: Malyasia largest mobile operator (Axiata Group) has successfully lunched 10 years Sukuk 500$ million dollar, the company plane to buy Nepalese phone companey Ncell ltd.

(EBCTV)