Indonesia raises $716.35mln in Islamic bond auction

By Stefanno Sulaiman, Reuters News –, 2022Notes sold on Tuesday carried weighted average yields lower than comparable notes sold in the previous auction JAKARTA – Indonesia raised 10.64 trillion rupiah ($716.35 million) from an Islamic bonds auction on Tuesday, higher than indicative target of 7 trillion rupiah, its finance ministry said. Total incoming bids were 30.85 […]

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Bahri’s $1.04bln unsecured Sukuk oversubscribed 1.95 times

The proceeds from the issuance will be used to refinance the company’s existing Sukuk maturing in July 2022 Staff Writer, TradeArabia, 2022 Bahri, a global leader in logistics and transportation, has said its SR3.9 billion ($1.04 billion) Saudi riyal-denominated seven-year senior unsecured Sukuk has been oversubscribed by 1.95 times. The proceeds from the issuance will be used […]

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Sukuk issuance from core markets down 17.2% in Q2

More than 90% of Fitch-rated sukuk that returned to the market in Q2 of 2022 (2Q22) were investment-grade Staff Writer, TradeArabia, 2022   Total US dollar-denominated sukuk issuance from the core markets of the GCC, Malaysia, Indonesia, Turkey, and Pakistan fell by 17.2% quarter-on-quarter (qoq) in Q2, whilst US dollar bond issuance fell by 63.8%, said Fitch […]

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How sukuk issuances are riding the wave of ESG

By: Edward Tang At the heart of Islamic bonds or sukuk is the idea of responsible investing, little wonder, then, that it should be finding its place in the world of sustainable investment. The demand for sukuk, commonly known as Islamic bonds, is expected to continue with its steady growth as more investors look for […]

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Oman’s plan to introduce Islamic money market instruments is positive for sector

Moody’s says move will also diversify Islamic lenders’ assets Staff Writer, ZAWYA, 2022   Oman’s plan to introduce Islamic money market instruments will support the growth of the Islamic sector and diversify lenders’ assets, according to Moody’s. Last week, the Central Bank of Oman (CBO) announced progress of the planned introduction of Shariah-compliant money market instruments. […]

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State Bank of Pakistan adopts additional four new AAOIFI Shari’ah standards

This makes the total number of standards adopted by SBP 20 Press Release, 2022   Manama, Kingdom of Bahrain: Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is pleased to learn that the State Bank of Pakistan has adopted four additional AAOIFI Shari’ah standards. These standards include Shari’ah standard (SS) No. 10 – Salam and […]

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Tadawul launches first Shariah-compliant index

The step comes in line with growing demand and interest from local and international investors for Shariah-compliant investment tools Staff Writer, Mubasher, 2022 SAUDI ARABIAMARKETSMIDDLE EASTISLAMIC FINANCEEQUITIES Riyadh – The Saudi Exchange (Tadawul) has launched its first Shariah-compliant index, the TASI Islamic Index, to track the performance of the listed Shariah-compliant companies. This step comes in line with […]

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The IILM successfully reissues USD 600mln short-term Sukuk; second issuance

Today’s Ṣukūk reissuance marks the IILM’s second Ṣukūk auction for 2022 Press Release- SUKUK   Kuala Lumpur, Malaysia: The International Islamic Liquidity Management Corporation (IILM) has successfully reissued a total of USD 600 million short-term “A-1” rated Ṣukūk across two different tenors of three and six-month respectively. The two series were priced competitively at: 1.68% for USD 240 million for […]

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