Middle East
Pakistan to issue domestic sukuk
Pakistan has issued sukuk rather successfully in recent years. The country’s Islamic banking sector is thriving, albeit at the expense of its conventional banking industry.
11 Feb 2016
KFH Turkey issues sukuk
Kuwait Finance House Turkey has issued sukuk for the further development of its enterprises in the country. The issuance is a welcome move as the country continues to experience a lack of DCM activity.
11 Feb 2016
QIB looking to increase sukuk programme
The stability that sukuk offer, a desirable characteristic in today’s emerging markets more than ever, is part of the reason why Qatar Islamic Bank is looking to increase the amount it can issue. Although this move is likely to be welcomed, opinions could easily change if the bank decides to actually push ahead with an issuance.
10 Feb 2016
Qatar’s Ooredoo to issue debt
Qatar’s telecommunications giant is looking to raise capital through debt issuances. This could prove problematic amid domestic economic prudence resulting from the commodity slump and concerns from abroad over the stability of the Middle East region.
10 Feb 2016
Mohebi Logistics issues sukuk
The Dubai government is constructing a new city, Dubai South. One company expanding in this area has followed the tradition of issuing a sukuk, albeit a rare type, to fund development.
9 Feb 2016
Iran is ready to develop its debt markets
After an agreement between major world powers and Iran saw the country’s nuclear sanctions lifted, the government is trying to develop its capital markets to attract foreign investment. To this end, it is first trying to develop its local market, as the global sentiment concerning debt in emerging markets remains negative.
3 Feb 2016
Saudi Arabia hints at oil output cut
The possibility of Saudi Arabia cutting its oil output has seemed unlikely since attempts to cut output levels at OPEC failed in December last year. But the strain faced by all oil producing countries, even heavyweights like the Kingdom, may lead to an agreement in the near future.
1 Feb 2016
UAE GREs cast their nets wider in search of liquidity
Although UAE sovereigns and GREs regularly borrow from international capital markets, as the Middle Eastern arena become increasingly less liquid, GREs could begin to look further afield for financing.
28 Jan 2016
Boubyan Bank of Kuwait set to issue US$250mn sukuk
Boubyan Bank in Kuwait has received approval for the issuance for a US$250mn sukuk, with further details of the issuance to be made after all approvals are obtained.
27 Jan 2016
Qatar could issue sukuk as early as March
Sukuk issuances from the Middle East are expected to increase in 2016, but few are likely to receive as much interest as Qatar if it re-joins the international debt capital markets after a four-year hiatus.
27 Jan 2016