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Dubai hosts first Islamic commodity trade

DMCC, Dubai's government-owned commodities centre, hopes the maiden transaction encourages others to follow, says executive chairman Ahmed Bin Sulayem

March 26, 2013 1:57

Global sukuk supply less than half demand

Demand for sukuk projected to triple in five years; This year's issuance to set record but much smaller; E&Y says supply-demand gap could widen further; Awqaf are becoming major source of demand; Lack of intermediaries, common platform are constraints

September 9, 2012 11:49

PE firm buys 6.6 percent of Jordan Dubai Islamic bank

Jordan-based private equity firm Foursan Group has acquired a 6.6 percent stake in Jordan Dubai Islamic Bank, making it the bank's second largest stakeholder, Foursan said on Thursday.

September 6, 2012 5:42

Saudi Electric may go for long Sukuk tranche

Massive demand for Saudi Electric Co's (SEC) first international sukuk issue may prompt the company to include a rare long-dated tranche -- and could encourage issues by other utility companies in the Gulf.

March 26, 2012 4:28

Abu Dhabi’s TAQA prices $215 mln ringgit Islamic bond

Abu Dhabi National Energy Co (TAQA) raised $215 million from the sale of a Malaysian ringgit-denominated Islamic bond, or sukuk, it said on Sunday, as part of plans by the state-run oil and gas utility to diversify its funding sources.

February 26, 2012 11:22

Tunisian Parliament bloc proposes Islamic constitution

The third-largest party in Tunisia's constituent assembly, charged with writing a new constitution, proposed on Monday a draft document based on Islamic law which will likely alarm the country's secularists.

February 21, 2012 4:39

Iran to stop oil exports to “some” countries soon

Iran's oil minister said on Sunday the Islamic state would soon stop exporting crude to "some" countries, the state news agency IRNA reported.

January 30, 2012 3:23

Omani Islamic banks to float by June

Bank Nizwa, Al Izz to IPO by June, according to central bank sources, with Oman Arab Bank likely to lead the offering.

January 23, 2012 2:07

Dana Gas says will meet upcoming debt obligations

Dana hires international financial advisor for sukuk; Says in 'constructive' talks with Egypt govt on late payments; Shares fall to fresh all-time lows before recovering

January 17, 2012 2:55

Kuwait Finance House makes $96M profit from Saudi exit

The Saudi unit of Kuwait Finance House, the Gulf state's largest Islamic bank, made a 360 million riyals ($96 million) profit from the sale of a real estate project in the kingdom, the bank said in a regulatory filing on Sunday.

January 8, 2012 10:42

Qatar’s Barwa Bank completes $467M rights issue

Qatar's Barwa Bank, a unit of Barwa Real Estate, has completed a 1.7 billion riyals ($466.8 million) rights issue aimed at funding the bank's expansion, it said in a statement on Sunday.

January 8, 2012 10:40

Dubai’s MAF picks 4 banks for $1B sukuk programme

Majid Al Futtaim (MAF) Holding, the sole franchisee for hypermarket chain Carrefour in the Gulf, has picked four banks to set up a $1 billion Islamic bond programme, a prospectus issued by the Dubai-based mall developer showed.

January 8, 2012 10:36

Bahrain’s Gulf International Bank prices $300M sukuk

Bahrain's Gulf International Bank has priced a three-year $300 million Islamic bond or sukuk at a profit rate of 130 basis points over six-month LIBOR, it said in a statement on Wednesday.

December 8, 2011 9:14

Rioters attack liquor stores in Iraqi Kurdistan

Rioters burned dozens of alcohol shops and damaged several hotels in Iraq's semi-autonomous Kurdistan region after Friday prayers, prompting an attack a pro-Islamic party office, authorities and witnesses said on Saturday.

December 4, 2011 9:54

Dubai Islamic eyes bond sale for Tamweel unit

Dubai Islamic Bank (DIB) and its mortgage unit Tamweel plan to hold fixed income roadshows beginning in Asia, followed by the United Arab Emirates and Europe, eyeing a potential bond sale for the unit guaranteed by the bank.

November 30, 2011 12:13