Volume 14 Issue 09
Date of Issue: Wednesday, 01 Mar 2017
Issue:
v14i09Rapids:
Eurekahedge:
v14i09-eurekaREDmoney Indexes:
v14i09-REDindexesREDmoney Events:
v14i09-eventsDEALS
Hong Kong issues US$1 billion 10-year Sukuk
Qatar Islamic Bank receives approval to upsize Sukuk facility
Saudi Arabia seeking banks to arrange debut US dollar Sukuk
Indonesia raises IDR6.02 trillion (US$450.3 million) from Sukuk sale
Ministry of Finance evaluating Sukuk plan by Malaysia Debt Ventures
SapuraKencana Petroleum to issue Sukuk as part of US$1.5 billion multicurrency refinancing package
Kuveyt Turk receives approval for domestic Sukuk; to shut down Dubai office
Dana Gas may restructure US$700 million Sukuk and extend maturity
Africa Finance Corporation carries out US$150 million Sukuk transaction on NASDAQ Dubai Murabahah platform
ABHC Sukuk extends tenor on RM1 billion (US$225.1 million) Sukuk Wakalah and increases profit rate
Dubai Islamic Bank receives approval for US$5 billion Sukuk
Sunway Treasury Sukuk to issue 189th Islamic commercial papers worth RM100 million (US$22.51 million)
NEWS
Popular Credit of Algeria Bank to launch Shariah compliant financing from 2018
Global Islamic Financial Services awards Shariah audit certificate to Lendcor
Bank of Maldives expands Islamic product suite to include home financing product
AFFIN Holdings’s reorganization exercise will not affect ratings, RAM Ratings says
Securities and Exchange Commission of Pakistan approves prospectuses of two new Modarabas
Islamic Finance Center disburses PKR14 million (US$131,074) in the first two months
Filipino central bank working on Sukuk regulation among others
RESULTS
Qatar Islamic Bank realizes 10% increase in total assets for 2016
Alliance Financial Group realizes RM129.7 million (US$29.07 million) net profit for the third quarter of the 2017 financial year
Emirates REIT records 22.8% increase in rental income for 2016
Al Baraka Banking Group’s net income in 2016 decreases 6% to US$268 million
Riyad REIT achieves SAR9.89 million (US$2.64 million) net profit for 2016
Takaful International back in the black with BHD631,000 (US$1.66 million) total profit in 2016
Malaysia Building Society’s profit after tax in 2016 declines 21.8% to RM201.41 million (US$45.14 million)
Alinma Tokio Marine realizes net loss of SAR17.44 million (US$4.65 million) for 2016
TAKAFUL
Bahrain Kuwait Insurance Company to buy Bahrain Islamic Bank’s stake in Takaful International Co
Al Rajhi Company for Cooperative Insurance to provide employees of Ministry of Education with voluntary health insurance services
Malath Cooperative Insurance and Reinsurance Company gains regulatory approval to slash capital by more than half
Zurich Takaful Malaysia launches Family Takaful solution for senior citizens
RATINGS
Moody’s affirms ratings of 14 Russian financial institutions; changed outlooks from negative to stable
Fitch affirms long-term issuer default ratings on five UAE banks with a stable outlook
Moody’s upgrades Morocco’s ratings from stable to positive
RAM downgrades Oman’s rating to ‘gBBB2(pi)/Stable’
RAM reaffirms Samalaju Industrial Port’s Sukuk at ‘AA1(s)/Stable’
RAM assigns ‘AAA/Stable/P1’ ratings to Maybank Islamic’s proposed RM10 billion (US$2.24 billion) Islamic program
MOVES
Qatar Islamic Bank appoints board members
Malath Cooperative Insurance and Reinsurance Company’s board member resigns