DEALS

Indonesia looking to raise IDR6 trillion (US$450 million) through sovereign Sukuk 
Sunway Treasury Sukuk issues Islamic commercial papers on 3rd February; another due on the 10th February
Autoriti Monetari Brunei Darussalam issues 142nd Sukuk Ijarah worth BN$100 million (US$69.9 million)
EQUATE Petrochemical all set to issue US$750 million Sukuk to refinance existing debt
Aktif Bank receives regulatory approval for US$120 million Sukuk sale
Aeon Credit Service to make periodic distribution of RM400 million (US$90.26 million) Sukuk facility on the 16th February
Dubai Islamic Bank may issue benchmark-sized US dollar Sukuk 
Malaysia’s RM500 million (US$112.9 million) Islamic treasury bills oversubscribed by RM527 million (US$118.92 million)
Investment Corporation of Dubai lists US$1 billion Sukuk on NASDAQ Dubai, bringing total Sukuk listing value on exchange to US$47.21 billion

NEWS

Credit Guarantee Malaysia signs portfolio guarantee agreement with Bank Simpanan Nasional
Amana Bank in talks with the Islamic Corporation for the Development of the Private Sector to enhance capital
Pakistan proposes infrastructure finance bank; plans to beef up Islamic finance as an avenue for infrastructure funding
National Savings Scheme considering extending Islamic banking services to bring investors into Sukuk market
Department of Islamic Development Malaysia recognizes Halal certification of the Maldives

RESULTS

Kuwait Finance House recommends 17% cash distribution and 10% bonus shares on the back of 13.3% increase in net profit attributable to shareholders
First Gulf Bank realizes AED6.39 billion (US$1.74 billion) in net interest income and income from Islamic financing in 2016
Sharjah Islamic Bank’s 2016 net profit rises 12.9% to AED462.89 million (US$126 million) 
Abu Dhabi Commercial Bank net profit drops 16% in the fourth quarter of 2016
National Bank of Abu Dhabi records flat net profit of AED5.3 billion (US$1.44 billion) in 2016; net interest and Islamic financing income at AED7.3 billion (US$1.99 billion)

ASSET MANAGEMENT

Waqf Fund approves US$1 million budget to fund Islamic finance training and education projects
Sabana Shariah Compliant Industrial Real Estate Investment Trust undergoing strategic review
Lembaga Tabung Haji to invest RM2 billion (US$451.42 million) in UK and Australian real estate

TAKAFUL

ACR Capital Holdings acquires full ownership of ACR ReTakaful Holdings and Asia Capital Reinsurance Malaysia 
Kuwait Finance House Takaful to distribute 5% insurance surplus to policyholders

RATINGS

Capital Intelligence lowers Albaraka Turk Katilim Bankasi’s ratings; outlook revised to stable
UEM Group maintains ‘AA2/Stable’ rating on RM2.2 billion (US$496.18 million) Islamic medium-term note program 
MARC affirms ‘AAAIS’ rating on TNB Western Energy’s RM4 billion (US$902.47 million) Sukuk facility
Capital Intelligence upgrades outlook on Qatar’s sovereign ratings from negative to stable
Central Bank of Jordan recognizes Islamic International Rating Agency as an external credit assessment institution

MOVES

Zurich Takaful chairman assumes board chairmanship of Alliance Bank
Franklin Templeton Investments’s Sandeep Singh to lead Central Eastern Europe, Middle East and Africa business; continues role as head of Islamic business
Islamic Banks Consultative Forum appoints new chairman, co-chairmen and vice-chairmen