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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Pentavirate launches $100mln Luxembourg Sukuk, rated A-

The investment has received an institutional rating of (A-) from EuroRating and is being reviewed by Amanie Advisors to secure the Islamic Fatwa Press Release Seattle, United States:  Pentavirate, a Seattle-based global investment firm, announces the issuance of a 5-year U.S. dollar denominated Sukuk of $100 million, backed by U.S. commercial real estate. The investment has received an […]

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Indonesia raises $790.5mln from Islamic bond auction

Stanley Widianto, Reuters News, Indonesia’s finance ministry made the announcement JAKARTA – Indonesia has raised 12 trillion rupiah ($790.51 million) in an Islamic bond auction, lower than the indicative target of 14 trillion rupiah, its finance ministry said on Tuesday. Incoming bids were 30.45 trillion rupiah. ($1 = 15,180.0000 rupiah) (Reporting by Stanley Widianto; Editing […]

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Dubai redeems sukuk worth more than $1bln

By: Brinda Darasha, ZAWYA The Dubai Government’s Debt Management Office (DMO) also prepaid an additional $300 million of sukuk through an early redemption Dubai’s department of finance said it has redeemed $750 million worth of sukuk or Islamic bonds, issued on January 30, 2013. The Dubai Government’s Debt Management Office (DMO) also prepaid an additional $300 […]

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Islamic finance reaches 25-year milestone in Sri Lanka

As Islamic finance has been in Sri Lanka for 25 years, the stakeholders of the industry launched this week a publication to commemorate the milestone reached by the non-conventional baking system in the country. The book titled ‘25 Years of Islamic Finance in Sri Lanka’ is published by UEC International and UTO Edu Consult. The […]

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Indonesia Islamic Finance Assets Hit Rp2,375tn, OJK Says

Translator: Dewi Elvia Muthiariny, Editor:Laila Afifa TEMPO.CO, Jakarta – Indonesia’s Financial Services Authority (OJK) said the assets of the country’s Islamic finance, excluding sharia stocks, amounted to Rp2,375.84 trillion or US$151.03 billion as of December 2022. “The Indonesian sharia finance industry has the potential and development that are recognized internationally. We can see from the State of Global […]

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Moody’s assigns Egypt’s first sukuk program a (P)B3 rating amid risk concerns

RIYADH: Egypt’s first proposed sovereign $5 billion sukuk offering has been assigned a (P)B3 rating by Moody’s Investor Service, meaning it is considered speculative and subject to high credit risk. The categorization from the credit rating agency reflects the government’s issuer rating, according to a statement. The anticipated Trust Certificate Issuance Programme is issued by the Egyptian […]

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Nigeria’s Islamic finance industry continues to grow despite headwinds: Fitch

Overall Nigerian banking sector outlook is ‘deteriorating’, says report Staff Writer, ZAWYA, 2023 Nigeria’s Islamic finance industry will hold its growth trajectory in 2023-2024, driven by the government’s sukuk issuances and policy push, Fitch Ratings said in a new report. The Central Bank of Nigeria has set the regulatory liquidity ratio for Islamic banks at 10%, […]

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The International Islamic Trade Finance Corporation (ITFC) Signs Euro 400 million 2023 Annual Plan with the Republic of Senegal and the Arab Africa Trade Bridges Country Program to Support the Key Sectors

The International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-idb.org), a member of the Islamic Development Bank Group (IsDB), today signed a Euro 400 million 2023 Annual Plan with the Republic of Senegal, within the revised US$1.5 billion five-years Framework Agreement signed in 2021 to include new priority sectors. The Annual Plan reflects the longstanding cooperation between […]

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