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IFN Oman Forum 2021

Volume 14 Issue 07

Date of Issue: Wednesday, 15 Feb 2017


Issue:

v14i07

Rapids:

v14i07-page2

Eurekahedge:

v14i07-eureka

REDmoney Indexes:

v14i07-REDindexes

REDmoney Events:

v14i07-events

DEALS

Indonesia raises IDR7.57 trillion (US$567.75 million) from sovereign Sukuk auction
Central Bank of Bahrain’s Sukuk Ijarah subscribed by 117%
Dubai Islamic Bank’s five-year Sukuk facility receives orderbooks in excess of US$2.2 billion; sets final price guidance at 175bps over midswaps
Egypt postpones Sukuk issuance to next year
Emir of Kano wants state government to consider issuing Sukuk to finance education projects
International Islamic Liquidity Management Corporation to auction three-month US$840 million Sukuk facility
Iranian government issues IRR3 trillion (US$92.52 million)-worth of domestic Sukuk
Sunway Treasury Sukuk issues 183rd Islamic commercial papers
UEM Sunrise raises RM100 million (US$22.53 million) through Islamic commercial papers

NEWS

Sudan’s finance minister calls on Abu Dhabi Islamic Bank to expand banking activities in the country
Abu Dhabi Islamic Bank to provide US$150 million to Banque Misr to help boost dollar resources
Jaiz Bank debuts on Nigerian Stock Exchange; lists 29.46 billion shares
EthisCrowd launches new version of its Shariah compliant crowdfunding platform
Islamic banks in discussion with Pakistan Mercantile Exchange to develop commodity Murabahah trading platform
Bangladesh Bank inks green financing deals with Islamic and conventional banks 
Malaysian professional accounting bodies to include Islamic finance in new upcoming competency framework for accountants 

RESULTS

Takaful Emarat’s net profit in 2016 rises 47% to AED15.01 million (US$4.09 million)
Jordan Islamic Bank’s consolidated net profit for 2016 financial year rises to JOD54 million (US$75.93 million)
Bahrain Islamic Bank realizes BHD8.4 million (US$21.66 million) net profit in 2016
QInvest records higher revenues for 2016 at QAR416 million (US$114.15 million)
Khaleeji Commercial Bank’s net profit in 2016 financial year falls to BHD5.31 million (US$13.98 million)
Islamic Insurance reports retained earnings of JOD4.59 million (US$6.46 million) in 2016
Finance House Group’s total comprehensive income increases 50% to AED65 million (US$17.69 million) in 2016
SHUAA Capital reduces group loss in 2016 by 30.4% to AED132.5 million (US$36.06 million)
Palestine Islamic Bank’s net profit in 2016 financial year rises to US$12.6 million

ASSET MANAGEMENT

Al Hilal Global Sukuk Fund to deliver 3.83% dividend payout
SHUAA Capital working on acquisition of a finance company and three IPOs

TAKAFUL

Mellat Insurance to establish Iran’s second life insurance company
Orient Takaful renews insurance deal for Hilton hotels in Hurghada and Alexandria
Tawuniya to provide medical insurance services to employees of Saudi Arabia Airlines

RATINGS

Moody’s upgrades Indonesia’s outlook to positive from stable
Fitch affirms Lebanon’s ratings at ‘B-’ with a stable outlook
Capital Intelligence affirms Finance House’s investment grade credit ratings with a stable outlook

MOVES

IDB welcomes Dr Abdulhakim Elwaer as new group spokesperson
Malaysia Deposit Insurance Corporation appoints two new board members
Fahad Al Shaer to head Islamic division of National Bank of Abu Dhabi-First Gulf Bank merged entity
Bank Al Habib appoints Sohail Abbasi as head of Islamic banking