Emirates NBD arranges Al Rajhi’s $1bln inaugural sukuk

The five-year sukuk which was priced at a reoffer yield of 4.774% generated strong demand, attracting orders of over $3.75bln Binsal Abdulkader and Rola AlGhoul, WAM (Emirates News Agency) DUBAI – Emirates NBD has successfully priced a US$1 billion Senior Unsecured Sustainable Sukuk for Al Rajhi Bank, the world’s largest Islamic bank by assets and market capitalisation. […]

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Global central banks keep up inflation fight

March saw six interest rate hikes across eight meetings by central banks overseeing the 10 most heavily traded currencies Karin Strohecker and Vincent Flasseur, Reuters News April, 2023 LONDON  – The pace of interest rate hikes by major developed and emerging market central banks continued at a healthy clip in March though the scale of rises […]

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UAE’s National Bonds rake in $3.7bln with 15% growth in 2022

National Bonds outstanding growth in 2022 included both individuals and institutions, as well as remarkable returns given to the bondholders Tariq Al Fahaam, WAM (Emirates News Agency) DUBAI: National Bonds, the UAE’s Shari’a-compliant savings and investment company, saw another strong year soaring to an investment portfolio of AED 13.7bn ($3.7 billion) in 2022, higher by 15% […]

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Alberta invites halal finance to its sandbox

Government seeks to develop Islam-compliant mortgages in regulatory testing ground By: James Langton. April, 2023 The government of Alberta is looking to expand access to financing that adheres to Islamic law, with a view to enabling halal mortgages. The provincial government said that its regulatory sandbox — which allows financial firms to experiment with novel products […]

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Qatar is a flourishing halal economy hub: IPA Qatar

The study further shows that the global halal economy is taking centre stage, showcasing its significant growth and potential to reach a staggering $7.7trln in market value by 2025 Staff Writer, The Peninsula April , 2023 Doha: The Investment Promotion Agency of Qatar (IPA Qatar) conducted a study that shows that the State of Qatar serves […]

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Air Lease Corporation Completes First Ever North American Corporate Sukuk Offering

LOS ANGELES—-Today Air Lease Corporation (NYSE: AL) announced the successful completion of its inaugural sukuk issuance. The transaction, settled on March 15, 2023, represented the first ever offering of its kind into the Middle East market from a North American corporate and the largest sukuk from a US-based borrower in history. The offering consisted of […]

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Can Islamic bonds ride on the coattails of green bonds in Africa?

Any African state that can develop a regulatory framework for finance that is compatible with both Islamic law and the environment will surely be successful in attracting international funds. The Abuja National Mosque receives thousands of worshippers. Just three minutes away, down Constitution Avenue, is the headquarters of the Nigerian Securities Exchange Commission (SEC). One […]

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