Saudi Arabia issues $2.75bln sukuk in March, Kingdom’s debt offices reports

The issuance is divided into two tranches Staff Writer, Arab News RIYADH: Saudi Arabia’s National Debt Management Center has closed the March 2022 issuance of Saudi riyal-denominated sukuk, valued at SR10.3 billion ($2.75 billion). The issuance is divided into two tranches. The first tranche has a size of SR3.5 billion maturing in 2030, while the second […]

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Qatar offers vast opportunities for global fintechs

Doha Qatar offers great opportunities for international fintech companies, especially in light of the projected expenditures allocated for information and communications technology, which could reach $9bn by 2024, according to Minister of Commerce and Industry HE Sheikh Mohamed bin Hamad bin Qassim al-Thani. “The Islamic fintech market in Qatar was estimated at $850mn in 2020, […]

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Dubai Islamic Bank issues $750m sukuk

By :Aarti Nagraj Dubai Islamic Bank, the largest Sharia-compliant lender in the UAE, has closed a $750 million (Dh2.75 billion) five-year sukuk, tapping into growing global interest in Islamic bonds. Investor demand was “strong” with an order book that was more than 2.5 times oversubscribed, the lender said in a statement on Wednesday to the Dubai Financial […]

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Islamic finance — the uphill journey continues

Ahmed Ali Siddiqui | Maryam Tariq The Islamic finance industry continued its impressive growth journey in Pakistan in 2021. Pakistan has been ranked 8th in the Global Islamic Economic Indicator list with the sustainable growth of Islamic institutions in the financial sector and economy. In 2021, the Islamic finance industry of Pakistan achieved high growth, effectuated significant […]

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Islamic finance industry set for continued growth in 2022 despite challenges

Islamic banks’ assets globally will continue to outperform their conventional peers this year, Moody’s says Sarmad Khan Mar 8, 2022 The Islamic finance sector is set to continue growing in 2022 as the accelerating economic recovery, particularly in the GCC region, brightens the outlook for credit growth despite challenges from a rise in interest rates and decline in […]

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Egypt cabinet approves international sukuk issue: statement

By Moamen Said Attallah, Reuters News CAIRO- Cabinet statement The Egyptian cabinet has given the finance ministry the go-ahead to take measures aimed at issuing sovereign sukuk on international markets, a cabinet statement said on Wednesday. (Reporting by Moamen Said Attallah; Writing by Shakeel Ahmad; Editing by Alison Williams) ((shakeel.ahmad@thomsonreuters.com;)) Copyright reserved 2022 – Zawya

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Sukuk issuance seen flat at best in 2022 – S&P

DUBAI, (Reuters) – S&P Global Ratings said on Wednesday it expects global sukuk issuance volumes to be flat at best in 2022, amid decreasing liquidity and rising borrowing costs, as well as higher oil prices cutting some core Islamic finance countries’ funding needs. While economic transformation goals such as Saudi Arabia’s Vision 2030 may usher […]

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