DEALS

Central Bank of Bahrain’s BHD26 million (US$ 67.91 million) Sukuk Ijarah fully subscribed
KDU University College makes Sukuk profit payment on the 28th December
 Kuwait’s Capital Markets Authority considering US$2 billion-worth of corporate Sukuk and bonds requests; working on secondary market trading regulation
Nigerian government invites banks, legal firms and trustee firms to submit expression of interest for debut sovereign Sukuk
Central Bank of Bahrain’s Sukuk Issuance
Maybank sets up Sukuk Murabahah program of up to RM10 billion (US$2.25 billion)

NEWS

Central bank allows new Islamic banks into local markets
People’s Bank of Zanzibar signs banking tech agreement with ICS Financial Systems
International Islamic Trade Finance Corporation to support African Countries 
Christian Association of Nigeria urges country’s withdrawal from International Islamic Liquidity Management Corporation
2017’s sovereign Sukuk a means to solving recession
Bank Indonesia to increase Islamic finance market share by collaborating with Islamic schools; expects to implement program roadmap in 2017
Islamic bankers propose multicurrency Sukuk for China Pakistan Economic Corridor projects

ASSET MANAGEMENT

Al Meezan Investment Management expands product suite with debut energy sector-specific fund
MCB-Arif Habib Savings and Investments inaugurates Islamic investment division
Emirates REIT to make interim dividend payment of US$11.98 million in January 2017; to maintain semi-annual dividend distribution
Habib Modaraba Management to transfer management rights of First Habib Modaraba to Habib Metropolitan Modaraba Management Company
Rahim & Co International takes over management of Shariah compliant KLCC REIT
Sabana REIT to acquire 107 Eunos Avenue 3 for SG$36.1 million (US$25.06 million)
Citigate International raises US$10 million for Islamic fund investing in diamond mining projects in Africa
Pak Brunei Investment Company to divest 70% shareholding in Primus Investment Management

TAKAFUL

National Disaster Management Center and Ayady Takaful launch new Takaful scheme
Pos Malaysia partners with Etiqa Takaful to offer Pos Khairat Takaful
Arab Islamic Company for Takaful Insurance launched
GlobeMed inks third party administration agreement with Egyptian Takaful Insurance Company 
Solidarity announces Sanah Al Wakalah contract termination; appoints Al-Rajhi Capital as financial advisor

RATINGS

Quill Retail Mall’s Sukuk gets preliminary ratings
TRIplc Medical’s senior Sukuk receives ‘AA1’ preliminary ratings from RAM
Jimah East Power maintains ‘AA-IS’ rating on RM8.98 billion (US$2 billion) Sukuk 
RAM maintains good ratings on Malaysia Airport’s Islamic debt facilities
MARC affirms MMC Corporation’s RM1.5 billion (US$337.99 million) Sukuk Murabahah program

MOVES

International Islamic Liquidity Management Corporation appoints Godwin Emefiele as chairman
Venkat Chandrasekar becomes Al Rayan Bank’s COO
AmBank appoints new head of investment banking
Gulf Bond and Sukuk Association appoints senior executives of Emirates NBD as chairman and acting vice-chair of regional board
Alawwal Bank announces return of chairman and vice chairman; board members appointed
National Takaful Co chairman resigns
Ahmad AlKazemi becomes the new general manager of Kuwait International Bank 
Audit Oversight Board of Pakistan welcomes new chairman and members
SABB Takaful Co announces resignation; appoints new board member
Reserve Bank of India appoints deputy governor
Khaleeji Commercial Bank’s board member resigns
The Saudi British Bank appoints new board