DEALS

Indonesia targets to raise IDR3 trillion (US$231.3 million) via Sukuk auction
TH Heavy Engineering to extend maturity of Sukuk Murabahah program by one year
DanaInfra Nasional plans to tap Sukuk market to finance MRT project
International Islamic Liquidity Management auctions three-month US$1.11 billion Sukuk facility
Malaysia issues RM3 billion (US$724.02 million)-worth of GII Murabahah
Kuala Lumpur Kepong fully redeems RM300 million (US$71.87 million) Sukuk Ijarah
Bahrain raises US$1 billion each from Sukuk and bond issuances
BRI Syariah commences bookbuilding process for IDR1 trillion (US$76.8 million) Sukuk Mudarabah 
Brunei floats 137th short-term Sukuk Ijarah facility
Tenaga Nasional’s unit raises US$750 million from 10-year Sukuk issuance
Malaysia’s GII Murabahah oversubscribed by RM3.07 billion (US$731.64 million)
Angkasa Pura I to raise funds from conventional bonds and Sukuk to develop airports
Jordan raises JOD34 million (US$47.9 million) via five-year Sukuk Ijarah; more than three times oversubscribed
Housing Development Finance Corporation’s Sukuk postponed
Central Bank of Bahrain’s monthly Sukuk Salam facility worth BHD43 million (US$110.17 million) fully subscribed
Ivory Coast to explore possibility of issuing Sukuk to support SME sector; to discuss with the IDB’s private sector arm
Warba Bank to issue capital-boosting Sukuk facility of up to US$250 million 

NEWS

Nigeria to welcome new fully-fledged Islamic bank in 2017; receiving strong Islamic banking interest from GCC and Chinese players
Jammu and Kashmir Bank considering offering Islamic banking on the back of strong demand
BRI Syariah to float IDR1 trillion (US$76.8 million)-worth of shares via IPO in 2018
Bank Panin Dubai Syariah plans to raise capital through rights issue in 2017
Bank Rakyat approves RM21 billion (US$5.03 billion) for financing products as at the end of September 2016
Meezan Bank and Pak China Investment Company team up to capitalize on trade and investment opportunities in China-Pakistan Economic Corridor

ASSET MANAGEMENT

Parent of Emirates REIT receives Emiri decree to operate onshore fund investments in Ras Al Khaimah
SHUAA Capital completes development of Centro Shaheen Jeddah Hotel; funded by Shariah compliant hospitality fund

TAKAFUL

Al Salam Bank-Bahrain and Takaful International enter into bancaTakaful agreement

RATINGS

MARC affirms ‘B-ID’ rating on Talam Transform’s settlement Bithaman Ajil debt securities
Moody’s affirms Boubyan Bank’s ratings; long-term deposit ratings revised to positive 
Moody’s assigns ‘(P)A3’ rating to Tenaga Nasional’s proposed Sukuk
MARC revises rating outlook on Celcom Networks’s Sukuk Murabahah program to negative as competition heats up in telco landscape
RAM reaffirms ‘AAA/Stable/P1’ ratings on National Bank of Abu Dhabi
RAM places Al Bayan’s Sukuk on rating watch with a negative outlook
MARC withdraws rating on Malaysian International Tuna Port’s Bai Bithaman Ajil Islamic debt securities

MOVES

National Bank of Abu Dhabi and First Gulf Bank decide on senior management team for upcoming merged entity
Khaled Eissa Al-Failakawy to lead Kuwait International Bank’s Disclosure Unit 
Saudi Hollandi Bank’s managing director resigns; successor to be announced before end of 2016
Giles Cunningham to lead BLME Holdings as CEO