NEWS in BRIEF
Dubai Luxury Real Estate Developer DAMAC Successfully Closes its Latest Sukuk Issuance in the International Market with a US$200 million 2.25-year Senior Unsecured Sukuk Offering in February 2023 Dubai -…
Saudi NDMC Domestic Sovereign Sukuk Issuance Momentum Continues with Closure of Two-tranche SAR3,465.56m (US$923.25m) Sukuk in February 2023, as Aggregate for First Two Months Reach SAR7,123.1m (US$1,897.9m)
The National Debt Management Centre (NDMC) of the Saudi Ministry of Finance (MoF) successfully closed its second consecutive monthly domestic sovereign Sukuk issuance on 15 February 2023 raising an aggregate…
Saudi Investment Bank (SAIB) Closes Second Perpetual Sukuk Issuance – a SAR500m Offering – in 6 Months Raising a Total SAR2.5 bn (US$660m) Through Private Placement
Sukuk issuance momentum in the Saudi Arabian banking sector continues in earnest underlining the fact that Sukuk issuance remains the preferred mode of fund raising, refinancing and Tier I capital…
Emirates Islamic Successfully Closes UAE’s First Local Currency AED1bn (AED272.3m) Sukuk as Dirham-denominated Debt Papers Flourish Among Bank Issuers
Banks in the UAE seem to be turning to raising funds from issuing domestic debt instruments denominated in dirhams, as demand for local currency debt papers increase.In the last few…
DIB Continues its Sustainability Issuer Advantage in the UAE Market with US$1bn Sustainable Sukuk Issuance in February 2023 – the Second Such issuance in Two Months
Dubai Islamic Bank (DIB), one of the most prolific and regular issuers of Sukuk by a financial institution and the largest Islamic bank in the UAE in terms of assets,…
Market Welcomes Egypt’s Entry into Global Sukuk Market with Maiden US$1.5bn Issuance in February 2023 with Robust Optimism Tempered with Subdued Caution
After almost three years of deliberations, the Egyptian Government finally went to the international market in February 2023 successfully closing its maiden US dollar Sukuk issuance – a US$1.5 billion…
NEWS in BRIEF
ITFC and ISFD Launch US$150m Trade Finance Support Programme for IsDB’s Least Developed Member Countries (LDMCs) Affected by the COVID-19 and the Food Security Crises Jeddah – The International Islamic…
Saudi NDMC Domestic Sovereign Sukuk Issuance Momentum Continues with First SAR3,465.6m (US$923.3m) Sukuk in 2023, on the Back of a Record US$32.53bn of Sovereign Sukuk Offerings in 2022
These are exciting times for the issuance of sovereign domestic Sukuk. There is no doubt that the National Debt Management Centre (NDMC) of the Saudi Ministry of Finance (MoF) is…
Saudi Arabia’s ACWA Power Launches Second Domestic SAR1.8bn (US$480m) Sukuk Offering in January 2023 to Finance its Rapidly Expanding Energy Transition Business
ACWA Power, in which the Saudi sovereign wealth fund, Public Investment Fund (PIF), has a 50% equity stake, returned to the Sukuk market on 10 January 2023 with the launch…
First Abu Dhabi Bank (FAB) Kicks off International Sukuk Issuance with a Benchmark US$500m RegS Offering in January 2023 followed by a US$600m Bond, Raising an Aggregate US$1.1bn
Each January, there is a scramble as to which institution will be the first to issue a Sukuk in the international market in that respective year. Usually, it is a…
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