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IFN Oman Forum 2021

Volume 14 Issue 08

Date of Issue: Wednesday, 22 Feb 2017


Issue:

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Rapids:

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Eurekahedge:

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REDmoney Indexes:

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REDmoney Events:

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DEALS

Indonesia auctions IDR6 trillion (US$450 million)-worth of sovereign Sukuk
Dubai Islamic Bank lists US$1 billion Sukuk on NASDAQ Dubai 
Digi to raise up to RM5 billion (US$1.12 billion) through Sukuk 
International Islamic Liquidity Management Corporation’s US$840 million three-month Sukuk facility oversubscribed by US$2.3 billion 
Sunway Treasury Sukuk’s 186th Islamic commercial papers worth RM200 million (US$44.93 million) oversubscribed more than two times 
SapuraKencana TMC wins approval for RM7 billion (US$1.57 billion) Sukuk Murabahah 
Khazanah Nasional looks at opening world’s first ringgit SRI Sukuk to retail investors 
Lead managers of Dubai’s previous Sukuk issuance pitching to government for possible dollar benchmark issuance
YTL Power International to fund Indonesian and Jordanian projects with RM2.5 billion (US$561.04 million) Sukuk
Malaysia’s GII Murabahah oversubscribed
Tanjung Bin Energy Issuer passes resolution to refinance Islamic junior term financing facility; withdraws resolution for construction of jetty
Central Bank of Bahrain sells BHD43 million (US$110.53 million)-worth of Sukuk Salam

NEWS

Muslim Association of Malawi engages government to launch Islamic financial institution 
Al Rajhi Bank Malaysia to begin digital transformation this month for corporate and retail businesses
Persatuan Remisier Bumiputera Malaysia to develop new Islamic investment business model in partnership with university
Malaysia’s local banking system and financial institutions well capitalized
Malaysia Trade & Export Finance Conference to take place in Kuala Lumpur on the 14th March
Richard Thomas receives the Freedom of the City of London
Eximbank plans to develop credit rating system and Sukuk in 2017
Luxembourg and Iran sign agreement promising greater protection for investors in both countries 
Al Rayan Bank to support Islamic Relief’s Shariah compliant microfinance project 

RESULTS

Syrian International Islamic Bank records net profit of SYP11.56 billion (US$53.81 million) for 2016 fiscal year
Abu Dhabi Islamic Bank realizes net profit of AED1.95 billion (US$530.79 million) for 2016; recommends 24.52% cash dividend
Union National Bank’s net interest income and Islamic finance earning dip 10% to AED2.63 billion (US$715.89 million) in 2016 
Securities and Investment Company realizes net consolidated profit of BHD2.3 million (US$5.91 million) for 2016
National Takaful Company recovers from 2015 losses; registers AED385,000 (US$104,795) in profits
Al Israa for Islamic Finance and Investment realizes net operating income of JOD1.08 million (US$1.51 million) for 2016

ASSET MANAGEMENT

New York-listed gold exchange-traded fund receives Shariah compliant certification 
AFFIN Holdings to undertake reorganization of AFFIN and its group of companies

TAKAFUL

Amana Cooperative Insurance to reduce capital

RATINGS

Fitch affirms Bahrain’s ratings at ‘BB+’ with a stable outlook 
Capital Intelligence affirms Bank Islam Malaysia’s rating at ‘BBB’ with a stable outlook
Oman receives rating downgrades on the back of deteriorating fiscal and external balances

MOVES

Hong Kong Exchanges and Clearing appoints Ferheen Mahomed as group general counsel
Bursa Malaysia makes key organizational structure changes to drive Islamic operations among others