DEALS

CIMB Islamic expects Sukuk market to remain buoyant going into first quarter with healthy deal pipeline; sets sight on investment account offering in 2017
International Islamic Liquidity Management Corporation’s US$500 million short-term Sukuk facility oversubscribed by US$552 million
Sunway Treasury Sukuk issues 165th Islamic commercial papers worth RM120 million (US$27.07 million)
Al Baraka Banking Group plans US$300 million Tier 1 Sukuk issue in first quarter of 2017
Brunei issues 140th Sukuk Ijarah series worth BN$100 million (US$69.57 million)
ABHC Sukuk to make principal and profit payment for Sukuk Wakalah
Al-Dzahab Assets to make profit payment for Class A and Class B Tranche 1 Sukuk Murabahah
Qatar Islamic Bank has no immediate plans to issue further Sukuk, says CFO
Malaysia’s GII Murabahah worth RM1.5 billion (US$338.34 million) oversubscribed by RM4.13 billion (US$931.56 million)

NEWS

Banque Misr mandates ADIB Capital and Credit Suisse to arrange US$350 million five-year debt financing 
IDB to support development projects in Burkina Faso via US$1.3 billion in financing
Otoritas Jasa Keuangan grants Shariah business unit licenses to finance company and venture capital firm
Boards of MCB Bank and NIB Bank approve merger by way of share swap arrangement
State of Malacca eyes Islamic banking hub status in line with efforts to develop deep sea port
Otoritas Jasa Keuangan formulating guidelines on Sukuk reporting
Islamic Corporation for the Development of the Private Sector collaborates with Baku International Sea Trade Port to attract investors to Alat Free Trade Zone
Indian government not keen on Islamic banking as new means of financial inclusion
ICD and AlHuda Center of Islamic Banking and Economics sign MoU to develop Islamic microfinance industry
Global Islamic banking industry contracts in 2015; fintech could add 150 million new customers by 2021, says EY
IDB and French Agency for Development to enhance cooperation via MoU
KFH Capital Investment Co facilitates acquisition of Newark tower for US$165 million

ASSET MANAGEMENT

Sabana REIT proposes acquisition of 72 Eunos Avenue 7 for SG$20.9 million (US$14.6 million)
Malaysia Venture Capital Management and Elixir Capital to establish global Islamic economy fund; targeting funding for start-ups in OIC countries

TAKAFUL

Amana Takaful Insurance unveils new protection scheme for Tuk Tuk drivers
SAAFI and INAIA launch Shariah compliant gold savings product for French market
Malaysia Deposit Insurance Corporation forms cross-border cooperation with US and Korean counterparts

RATINGS

RAM reaffirms Danajamin Nasional’s insurer financial strength ratings at ‘AAA/Stable/P1’
Khaleeji Commercial Bank secures first time issuer ratings of ‘Ba3/Not-Prime’ 
Bank ABC Islamic maintains ratings with stable outlook on consistent profitability
RAM reaffirms ‘AA1/Stable’ rating on Teknologi Tenaga Perlis Consortium’s Sukuk
GCC banks’ 2017 outlook remains negative as weaker economic growth feeds through credit fundamentals, says Fitch
Ras Al Khaimah continues to benefit from UAE membership; maintains ‘A’ ratings

MOVES

Bank of Azad Jammu & Kashmir appoints Imran Samad as CEO and managing director
Saudi British Bank’s board appoints Georges ElHedery as non-executive director