DEALS

Bahrain’s BHD26 million (US$68.51 million) short-term Sukuk Ijarah oversubscribed
Indonesia raises IDR6 trillion (US$457.2 million) from Sukuk sale
Public Sector Home Financing Board to raise at least RM2 billion (US$490.85 million) from debut state-backed Sukuk sale
AmBank Islamic to redeem outstanding RM480 million (US$117.81 million) Sukuk Musharakah
Eversendai to cancel RM500 million (US$122.71 million) Sukuk Musharakah program once the refinancing of outstanding obligations has been finalized
Tanjung Bin Energy Issuer to make Sukuk payment on the 19th September
Emaar Properties issues US$750 million-worth of Sukuk
Putrajaya Holdings issues RM170 million (US$41.67 million) in Islamic papers

NEWS

Indian minority affairs ministry proposes to develop idle Waqf land for commercial purposes; to digitize Waqf documentation in next one year
IDB maintains support for Turkey regardless of sociopolitical conflicts, says president
Turkish government extends interest-free financings to merchants in Sur district of Diyarbakir province
KASB Securities to rebrand as BIPL Securities
Meezan Bank opens new Islamic banking branch in Gilgit Baltistan
IDB plans to convert recently-acquired commercial bank in Kazakhstan to fully-fledged Islamic bank
Bank Muamalat seeks new investor for expansion plans
Bank Islam rolls out new Shariah compliant Visa credit card for corporate clients
Two Iranian private banks to open branches in Germany
Three biggest Japanese banks look to Africa for business expansion
Iranian and German authorities agree to jointly develop capital markets
IDB’s private sector arm collaborates with West Africa’s stock exchange to launch Shariah compliant equity index
Dubai Islamic Bank gains full ownership of Kenyan subsidiary after a buyout deal with Imperial Bank
Amlak Finance to provide Shariah compliant property financing for Green Community West Phase 3 project 
Iran’s Ministry of Economic Affairs and Finance clears Islamic treasury bills worth IRR9.96 trillion (US$330.88 million)
Ports Development Co secures SAR2.7 billion (US$719.58 million) Murabahah facility from Saudi banks
Iran reduces minimum capital requirement for foreign banks in free zones to EUR100 million (US$112.28 million)
Aluminium Bahrain secures commercial loan facility comprising Islamic and conventional tranches with a combined value of US$1.5 billion for Line 6 expansion project

TAKAFUL

MetLife AIG ANB Cooperative Insurance Company secures final approval for product

RATINGS

S&P maintains Wataniya Insurance Co’s ratings at ‘BBB’; revises outlook to stable
MARC downgrades ratings on DRB-HICOM’s Sukuk 
RAM revises Bahrain’s sovereign ratings outlook to negative from stable
MARC assigns ‘MARC-1IS’ and ‘AAAIS’ ratings on Gas Malaysia’s Islamic notes with stable outlook
S&P affirms IDB’s ‘AAA’ credit rating with a stable outlook
Capital Intelligence affirms National Commercial Bank’s ‘AA-’ ratings 
MARC affirms ‘AAAIS’ rating on Aman Sukuk’s Islamic notes with stable outlook
Malaysia’s telco spectrum fee has minimal impact on ‘AA3’ rating of BGSM Management’s Islamic notes

MOVES

Bank ABC’s chief banking officer to step down in early 2017
Bank Al Habib appoints Mansoor Ali Khan as new chief executive
Deputy Governor Minouche Shafik to leave Bank of England at the end of February 2017