Malaysia issues $800 mln U.S. dollar sustainability sukuk, world’s first by a sovereign

Malaysia has issued $800 million worth of 10-year trust certificates, billed as the world’s first sovereign U.S. dollar sustainability sukuk as the proceeds will be used exclusively for green projects, the finance ministry said on Thursday. In addition, the Southeast Asian nation also issued $500 million 30-year trust certificates, the ministry said in a statement. […]

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Oman to meet half of state borrowing needs through sukuk – Moody’s

Increasing share of Islamic assets in Oman banking sector to support sukuk market By Staff Writer, ZAWYA Moody’s Investors Service said the rising share of Islamic assets in Oman’s banking assets will continue to deepen the market for domestic government sukuk, supporting government liquidity. “We expect the government will meet $2.0 billion-$2.5 billion of its annual […]

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Indonesia to make more regional development banks, pension funds Shariah-compliant as it eyes bigger Islamic economy

BY YOSI WINOSA JAKARTA – Indonesia is in a hurry to increase Islamic financial assets and, under orders from vice president Ma’ruf Amin, the National Committee for Islamic Economy and Finance (KNEKS) will take a progressive approach. Islamic commercial banking assets stood at 593,948 billion rupiah at the end of 2020, making up 6.47% of the […]

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Saudi PIF-anchored Shariah-compliant fund makes first investment

NBK Capital Partners’ $300 million Shariah Credit Opportunities Fund, anchored by Saudi Arabia’s Public Investment Fund, has made its first investment. The fund has signed a $20 million financing facility with UAE-based human resource outsourcing company Reach Group to support its expansion into Saudi Arabia. Reach is entering the Kingdom through the acquisition of a […]

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UAE’s Zurich Capital Funds Group launches Islamic digital bank

Accounts can provide services and sukuk without minimum daily restrictions By Staff Writer, ZAWYA Zurich Capital Funds Group has launched a fully Islamic Shariah compliant digital bank that will provide all banking services according to Islamic law. The Rizq/Baraka bank, while UAE based, will have a virtual presence globally, Zurich Capital, a private holding and financing […]

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Groundbreaking SOFR-linked Sukuk Issued by the Islamic Development Bank

Jeddah, Kingdom of Saudi Arabia, April 2021 – The Islamic Development Bank (IsDB – the Bank) has issued its first-ever Secured Overnight Financing Rate (SOFR)-linked Sukuk in the global capital markets. The Bank, rated Aaa/AAA/AAA by Moody’s, S&P and Fitch (all stable outlook), successfully closed the debut SOFR-linked issuance, its second Sukuk of the year, […]

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