DEALS

Indonesia raises IDR13.25 trillion (US$1 billion) from sovereign Sukuk auction; awards IDR5.79 trillion (US$438.3 million)
CIMB Islamic to redeem Tier 2 junior Sukuk ahead of schedule
ICD launches US$300 million Sukuk; adds two more banks as arrangers
Malaysian government issues another series of GII Murabahah
Ezdan Holding Group plans US$2 billion Sukuk issuance
Sunway Treasury Sukuk issues short-term Islamic notes
PRAN Foods signs agreement with Green Delta Capital to issue Sukuk for expansion project
Malaysia one step closer to issuing US dollar Sukuk

NEWS

The IDB extends US$27.7 million to Tunisia to develop agriculture sector
Al Amanah Islamic Investment Bank will pursue privatization; hopes to conclude within the next year, says chairman
Large capital buffers and highly profitable position provide Indonesian banks with sufficient shield against asset quality deterioration, says RAM Ratings
Sarana Multi Infrastruktur plans to operate Shariah unit in second half of 2016; mulls Sukuk issuance
Global market access to improve for Malaysian banks with the Trans-Pacific Partnership Agreement, says RAM Ratings
Pakistan Stock Exchange adds 41 new companies and removes 26 in re-composition of All-Share Islamic Index 
Qatar Islamic Bank (UK) fails to meet regulatory requirements on assessment and maintenance of financial resources; fined GBP1.38 million (US$1.95 million)
Islamic Fintech Alliance to bring together Muslim-focused technologies and innovations in finance
Central regulatory body for GCC stock markets proposed
Malaysia, Saudi Arabia and the UAE command 84% of US$321 billion outstanding Sukuk, report finds
USAID to provide long-term financing worth US$6 million to two Afghan financial institutions
Basel Committee proposing changes to Basel III framework; seeking feedback
NASDAQ Dubai welcomes listing of Indonesia’s US dollar Sukuk
MCB Bank competes with local Afghan company to acquire New Kabul Bank 
IPIC and Aabar Investments deny involvement with controversial 1MDB entity
Italy’s sole Iranian bank to recommence operations in Rome
Boursa Kuwait Securities Company to helm Kuwait Stock Exchange operations by end-April
Bank Muscat expects to open representative office in Iran later in 2016
Central Bank of Oman adjusts reserves policy encouraging banks to buy government debts and Sukuk

ASSET MANAGEMENT

Otoritas Jasa Keuangan anticipates Sukuk-based mutual funds to come to market this year and stimulate corporate Sukuk issuance 

TAKAFUL

Only 10% of GCC savers opt for Takaful coverage, National Bonds Corporation study shows
Qatar’s new insurance instructions ‘credit positive’, Moody’s says

RATINGS

Indonesia maintains global, ASEAN and national-scale sovereign ratings
Ranhill Powertron redeems and cancels Sukuk facility; rating withdrawn
MARC withdraws ‘AA+IS’ rating on Maybank Islamic’s RM1 billion (US$254.22 million) subordinated Sukuk 
MARC affirms Sunrise’s ‘AA-ID’ rating on its RM400 million (US$101.96 million) Islamic notes with stable outlook

MOVES

GFH Financial Group welcomes new board member
Mohammad Saif Ullah Khan named as National Bank of Oman’s head of compliance 
Saturna Capital appoints Scott Klimo as chief investment officer and Nick Kaiser as global strategist
Stormbridge International appoints former Qatar Islamic Bank’s chief as new partner
Al Madina Takaful appoints new representative from the Ministry of Defense pension fund to the board