DEALS

Indonesia auctions sovereign Sukuk to raise IDR4 trillion (US$294 million)
Bank Syariah Mandiri sets planned subordinated Sukuk profit rate at 9.5%
Sri Lanka considers selling benchmark US dollar global Sukuk as part of robust borrowing plan
Emirates Islamic concludes US$750 million Sukuk issuance; oversubscribed 2.95 times
Bank Muamalat to redeem RM400 million (US$97.14 million) Sukuk on the 15th June
Grand Sepadu to make Sukuk Murabahah payment on the 13th June
Saudi Aramco mandates banks to arrange riyal-denominated Sukuk program
Sunway Treasury Sukuk raises RM150 million (US$36.43 million) via short-term Islamic papers
Sharjah Islamic Bank repays US$400 million Sukuk
Noor Bank floats US$500 million perpetual Sukuk; orderbook exceeds US$1 billion
SP Setia to make periodic Sukuk Musharakah payment on the 13th June
Kuveyt Turk issues TRY300 million (US$101.35 million) Sukuk via public offering; plans regular public Sukuk sales to widen funding sources
MB Holding Co mandates banks to arrange US$150 million Sukuk sale
Turkish Treasury begins roadshows for international Sukuk in the Middle East

NEWS

IDB to establish smallest Islamic financial institution in Egypt
Shariah compliant securities account for 74% of total listed securities on Bursa Malaysia, says Securities Commission Malaysia
Malaysia to regulate fintech; framework expected to launch in July
Bank Indonesia considering relaxing banking rules
Savings Deposit Insurance Fund to put Bank Asya out to tender on 24th June
UK tax authority fails to recover GBP50 million (US$73.08 million) in stamp duty from Ijarah-structured sale of Chelsea Barracks
GFH receives warning from Kuwait’s Capital Markets Authority on IFRS non-compliance 
IDB collaborates with Turkish Airlines to assist member countries establish regional airlines
IDB, Saudi Fund for Development and Japanese government keen in financing TAPI gas pipeline project
Six credit rating agencies join ESG initiative; sign Statement on ESG in Credit Ratings and Analysis
IDB and IMF offer financial assistance to hard-hit Iraqi economy
Gulf Investment Corporation to hold EGM for ringgit Sukukholders on the 15th June
Qatar First Bank completes Shariah compliant real estate development project in London
ICD delegation to visit Azerbaijan and discuss potential for economic development including potential Sukuk issuance
Habib Bank to set up branch in Xinjiang Uygur’s Urumqi State High-tech Zone 
Al Yusr Islamic Banking inaugurates flagship branch in Athaiba

ASSET MANAGEMENT

Jordan’s senate passes law to establish Jordan Investment Fund

TAKAFUL

Omani Takaful operators realize 64% growth in gross direct premium in 2015

RATINGS

RAM withdraws rating on Noble Group’s Sukuk Murabahah
Indonesia secures ‘BBB-’ rating with a stable outlook
Moody’s confirms Gulf International Bank’s long-term deposit and short-term ratings
Etiqa Takaful maintains top ratings
AM Best affirms Solidarity General Takaful’s ‘B++’ financial strength rating
Malaysia’s banking system remains stable but faces challenging environment, says Moody’s 
Fitch affirms Ooredoo’s ‘A+’ rating with a stable outlook
Fitch affirms Egypt at ‘B’ with a stable outlook

MOVES

Bank Islam renews managing director’s contract
Samba Financial Group’s board member resigns