DEALS

Ekovest issues RM3.64 billion (US$902.78 million) Sukuk Wakalah
Indonesian government receives IDR15.27 trillion (US$1.15 billion) in bids from sale of five sovereign Sukuk securities; awards IDR4.37 trillion (US$330.37 million)
HK Realtindo issues IDR120 billion (US$9.05 million) two-year Sukuk Mudarabah
Dana Gas in talks with creditors on possible rollover and buyback of Sukuk due 2017 to structure debt
Ranhill Capital partially buys back Sukuk Musharakah of up to RM800 million (US$198.49 million)
Aktif Bank plans to issue second tranche of Sukuk Murabahah program 
Meezan Bank to privately place PKR7 billion (US$66.35 million) Tier 2 Sukuk
Khazanah Nasional mulling benchmark-sized exchangeable Sukuk sale

NEWS

Nasser Social Bank’s board approves capital increase plan
Federal Inland Revenue Services grants tax concessions to Nigeria’s proposed maiden sovereign Sukuk
Capital Markets Authority of Kenya working on facilitating Islamic finance in the country
Pakistani regulator discusses Modaraba sector; advises to increase outreach for greater financial inclusion
Islami Bank Bangladesh financially supports International Chamber of Commerce’s capacity-building initiatives
Bangladesh Petroleum Corporation seeks up to US$800 million from IDB’s trade finance arm to fund oil imports
Kuwait Finance House appoints KPMG Deal Advisory as Receiver and Manager for the sale of Asia Pacific Flight Training’s assets 
Pakistan introduces non-banking microfinance regulatory framework

ASSET MANAGEMENT

BLME Holdings drops plan to acquire Renaissance Asset Finance; to relaunch wealth management business under revised strategy

TAKAFUL

Takaful Emarat gets regulator’s nod to repurchase up to 10% of shares
Saudi regulator fines Salama Cooperative Insurance Company for corporate governance violation
Al Madina Takaful unveils Hajj and Umrah Travel Insurance scheme
Wataniya Insurance Company raises SAR93.69 million (US$24.97 million) from rights issue; to sell remaining rights issue shares on the 28th August
Egyptian Life Takaful Company to form bancaTakaful partnership with NBK Egypt

RATINGS

Widad Capital’s Sukuk program of up to RM110 million (US$27.27 million) in nominal value receives ‘AA2/Stable’ rating
GFH Financial Group maintains ‘BB’ long-term and ‘B’ short-term ratings with a stable outlook
Masraf Al Rayan receives rating upgrades as profitability and diversification strengthen 
Gas Malaysia receives top preliminary ratings for Islamic debt programs
MARC affirms ‘AAIS’ and ‘AAAIS(fg) ratings on Ranhill Powertron II’s Islamic notes

MOVES

Blathnaid Bergin resigns as board member of Al Alamiya for Cooperative Insurance a week after appointment
Al Hilal Bank appoints Yousuf M Sandeela to head treasury banking
International Accounting Standards Board names Mohammad Faiz Azmi as new chair of Islamic Finance Consultative Group
Islamic Financial Services Council of Australia appoints Chaaban Omran as new CEO
Kuwait Finance House Malaysia appoints new chief and top management team
Mashreq appoints new head of asset management; to also take on CEO role of Mashreq Capital 
Mohsin Shaik Sehu Mohammed to head investment banking and capital markets at Maisarah Islamic Banking Services