#Sukuk

islamic finance_ sukuks Getty images

Global outstanding sukuk market hits $823bn in Q3 2023

The growth in outstanding sukuk is attributed to several factors that are driving the issuance of Islamic bonds including issuers that seek to plug budget deficits

UAE green bonds, sukuk issuance hit Dhs15bn

UAE green bonds, sukuk issuance hit Dhs15bn, says SCA

The country has been encouraging issuers to raise green and sustainability-linked bonds, and sukuk to accelerate its transition to a low-carbon economy

DFSA waives fees on ESG listings on Nasdaq Dubai

DFSA scraps regulatory fees on ESG listings on Nasdaq Dubai

The waiver applies to all new and repeat issuers who make a relevant application to the Dubai Financial Services Authority

PIF-owned SRC successfully wraps up SAR3.5bn sukuk GettyImages

Saudi Real Estate Refinance Company wraps up SAR3.5bn sukuk issuance

The issuance was offered in five and seven-year dual tenors, marking the final two tranches under its SAR20bn government-guaranteed sukuk programme

Egypt issues RMB3.5bn in 3-year panda bonds

Egypt sells RMB3.5bn in 3-year panda bonds in debut issue

The government has been looking to tap less conventional sources of finance since a foreign borrowing spree caused its repayment schedule to balloon

UAE’s DP World issues $1.5bn green sukuk

UAE’s DP World raises $1.5bn with green sukuk

The proceeds from the sukuk issuance will be used to fund eligible green projects in line with the company’s recently published sustainable finance framework

ADIB redeems sukuk worth $750m

ADIB redeems sukuk worth $750m

The trading of the certificates on the Irish Stock Exchange was cancelled upon redemption of the certificates

Saudi Arabia plans to issue $9.6bn in sukuk after buyback GettyImages-1464744716-1

Saudi Arabia plans to issue $9.6bn in sukuk after buyback

HSBC Saudi Arabia, Al Rajhi Capital, SNB Capital, and AlJazira Capital have been appointed as joint lead managers to lead the transaction

Fitch says sukuk pricing remains similar to bonds in H1 2023

Sukuk pricing remains similar to bonds in H1 2023

Sukuk and bonds had a high pricing correlation of 0.95 (out of 1) on average and low average spreads between 2018 and H1 2023

DIB’s quarterly net profit jumps by 15% to $844m

DIB’s Q2 net profit surges to $844m on higher revenue

The Shariah-compliant bank’s total income reached Dhs9.3bn during the quarter, up 49 per cent from Dhs6.22bn the same period a year ago

Global outstanding sukuk volume break the $800bn barrier

Global outstanding sukuk volume breaks $800bn barrier

Sukuk issuance is expected to plunge in Q3 2023 before picking up pace in the last quarter of the year

UAE’s ADIB raises $750m in AT1 perpetual Sukuk.

UAE’s ADIB raises $750m in AT1 perpetual Sukuk

The issuance was met with robust demand, attracting interest from over 240 global and regional investors with the final order exceeding $7bn

UAE SCA to-waive-fees-for-firms-listing-green-bonds-sukuk-in-2023-Getty Images-1061630236.jpg

Registration fee waiver for firms listing green bond, sukuk in local market: SCA

The SCA board approved the decision to exempt the fee for this year for companies planning to list their sustainability-linked bond or sukuk

SRC CEO Fabrice Susini image credit SRC twitter

PIF’s Saudi Real Estate Refinance Company completes latest sukuk issuance of SAR3.5bn

This is the sixth tranche under SRC’s upsized SAR20bn sukuk programme

Majid Al Futtaim issues sukuk

UAE’s Majid Al Futtaim issues $500m green sukuk

The conglomerate will use the proceeds from its fourth green sukuk issuance to refinance an older $800m bond commitment due in May 2024

UAE debut T-Sukuk oversubcribed

UAE’s debut Islamic treasury bonds attracts bids worth Dhs8.3bn

The T-Sukuk auction will be followed by a listing on Nasdaq Dubai to promote secondary market trading along with primary dealers

Dubai Islamic Bank branch

Dubai Islamic Bank posts 12% surge in quarterly profit on higher revenue

The bank’s balance sheet expanded by 1.3 per cent YTD to Dhs292bn while customer deposits settled at Dhs198bn

TAQA Group CEO and managing director, Jasim Husain Thabet

UAE utility firm TAQA sets up green finance framework

The Abu Dhabi-listed firm said proceeds from the issuances will be used to finance eligible green projects including renewable energy

Emirates NBD arranges Egypt sukuk

Emirates NBD arranges Egypt’s $1.5bn sukuk

Emirates NBD said that the sukuk received strong appetite from regional and global emerging market investors

Arada raises$50m from second tap of existing $450m sukuk

Sharjah’s Arada raises $50m from second tap of existing $450m sukuk

The second tap was executed based on investor feedback and inquiries, following extensive roadshows across the UK and GCC

Emirates Islamic issues dirham denominated sukuk

UAE’s Emirates Islamic issues dirham-denominated sukuk valued at Dhs1bn

The three-year issue witnessed robust demand and was oversubscribed by 2.5 times

Dubai Islamic Bank prices $750m inaugural sustainable sukuk

Dubai Islamic Bank prices $750m inaugural sustainable sukuk

The transaction marked the largest issue size in international capital markets by a GCC bank since February 2022

islamic finance_ sukuks Getty images

Global sukuk issuance to hit $185bn in 2022, projected to reach $257bn by 2027, reveals study

Global sukuk issuance in the first half of 2022 raised $100.9bn, marginally lower than $104.2bn in H1 2021

Indonesian government

Indonesian government lists two sukuk valued at $3.25bn on Nasdaq Dubai

The Indonesian government is one of the largest sukuk issuers on Nasdaq Dubai

Sukuk

Sharjah’s Arada raises $350m via dollar sukuk, lists on London Stock Exchange

The issuance witnessed demand from regional and international investors, with a subscription order of $720m, more than two times the offer size

boursa kuwait

Kuwait bourse plans derivatives trading amid push for more IPOs

The Kuwaiti stock exchange plans to introduce a central counterparty service for the cash market by the end of the year

Dubai Islamic Bank lists $750m sukuk on Nasdaq Dubai

The issuance was oversubscribed by more than 2.5 times

Dubai Islamic Bank prices $750m senior sukuk

The sukuk will be listed on Euronext Dublin and Nasdaq Dubai

New ADIB Global Sukuk Fund raises more than $160m

The fund was launched in October last year

Warba Bank nasdaq dubai

Warba Bank lists $250m sukuk on Nasdaq Dubai

The total value of the Kuwaiti bank’s sukuk on the exchange stands at $898m