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How to anchor a RegS Sukuk in 2021: Which regional banks are ready to underwrite deals today?

Broadcast on Dec 9, 2020 from Livestream: Bonds, Loans & Sukuk Middle East 2020 - Virtual Conference

Platinum Sponsor

Emirates NBD

Platinum Sponsor

First Abu Dhabi Bank (FAB)

Gold Sponsor

BofA Securities

Gold Sponsor

GIB Capital

Gold Sponsor

HSBC

Gold Sponsor

MUFG

Gold Sponsor

SMBC

Multilateral Sponsor

ICD

Silver Sponsor

DWF

Silver Sponsor

Intesa Sanpaolo

Silver Sponsor

London Stock Exchange

Silver Sponsor

Mauritius Commercial Bank (MCB)

Silver Sponsor

Rawabi Holding

Bronze Sponsor

Arthur Cox

Bronze Sponsor

Bank of Jordan

Bronze Sponsor

Fitch Ratings

Bronze Sponsor

Finsight

Bronze Sponsor

Landesbank Baden-Württemberg

Bronze Sponsor

Shearman & Sterling

Bronze Sponsor

Squire Patton Boggs

Bronze Sponsor

United Arab Bank

Bronze Sponsor

Vienna Stock Exchange (Wiener Börse)

Subscribe for access:

  • How much regional liquidity is there for sukuk investments? Which banks are looking to anchor deals?
  • Supply or demand: Why wasn’t there more sukuk issuance in 2020?
  • Is the introducing of green and sustainable bonds an opportunity for the sukuk market?
  • Chicken and egg: Does sukuk issuance depend on the development of the secondary market, or will secondary trading only pick up when there is more sukuk to trade?
  • GCC, Asia, Europe: What are investors criteria for anchoring deals?
Middle East

Moderator

Umera Ali

Umera Ali

Partner, Head of Banking & Finance (Middle East) and Global Head of Islamic Finance

DWF (Middle East) LLP

Umera Ali

Umera Ali

Partner, Head of Banking & Finance (Middle East) and Global Head of Islamic Finance at DWF (Middle East) LLP

Umera Ali is a banking & finance partner at DWF Middle East advising on both conventional and Islamic finance matters, and also leads the firms Islamic finance practice.

She advises lenders, financial institutions, funds, sponsors, borrowers, and issuers in corporate and structured finance transactions, including secured and unsecured, syndicated and bilateral loans, asset finance, Islamic finance, supply chain finance, trade finance and debt capital market transactions.

Umera has significant experience having worked in six different jurisdictions. She has built her practice by concentrating on making connections and acting as a strategic partner, and not just a counsel, for her clients. She takes a highly practical and pragmatic approach to providing legal services and brings an understanding of cultural conventions and sensitivities when working on a transaction.

Umera is interested in innovation, sustainable power source, and environmental change, and fuses that with her practice by working with Fintech and Cleantech companies and advising on sustainable finance and carbon credit trading.

DWF (Middle East) LLP

Speakers

Usman Ahmed

Usman Ahmed

Head of Fixed Income Investments

FIM Partners

Usman Ahmed

Usman Ahmed

Head of Fixed Income Investments at FIM Partners

Usman is the Portfolio Manager for all MENA and Global Sukuk strategies at FIM Partners. He joined the firm from Emirates NBD Asset Management where he was the Head of Investments and was responsible for EM Corporate Credit, MENA Fixed Income and Global Sukuk strategies and achieved top quartile performance across his funds. Prior to Emirates NBD, Usman was a director at Mashreq Capital where he was responsible for the bank’s distressed debt and structured credit investments. Usman began his career at TCH Miami where he was in charge of the research team responsible for analyzing and monitoring lending policies for investment grade and speculative grade corporate issuers and structured products. He holds a master’s degree in Business Administration from the University of Miami and is a CFA Charter holder.

FIM Partners

Alex Imseeh

Alex Imseeh

Business Development Manager, Multi Asset Primary Markets

London Stock Exchange

Alex Imseeh

Alex Imseeh

Business Development Manager, Multi Asset Primary Markets at London Stock Exchange

Alexander Imseeh joined the Multi-Asset Primary Markets team at London Stock Exchange (LSE) in September 2014 as a Business Development Manager. In this role, Alex advises debt issuers and market participants on the process of issuing and trading bonds on LSE’s wholesale and retail bond markets while contributing to the development and expansion of London Stock Exchange’s Islamic finance and Sukuk offering across the world. During the past two years Alex was part of many “world first” and important bond listings including Saudi Aramco’s $12bn debut bond issuance on London Stock Exchange’s Main Market.

London Stock Exchange

Alex Imseeh

London Stock Exchange Group (LSEG) is a global financial markets infrastructure business. Its diversified global business focuses on Information Services, Risk and Balance Sheet Management and Capital Formation. The Group supports global financial stability and sustainable economic growth by enabling businesses and economies to fund innovation, manage risk and create jobs. LSEG operates an open access model, offering choice and partnership to customers across all of its businesses. These include London Stock Exchange; Borsa Italiana; MTS (a European fixed income market); Turquoise (a pan-European equities MTF); FTSE Russell, a global index, data and analytics provider; global clearing house LCH; and LSEG Technology. Headquartered in the United Kingdom, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,500 people.

Further information on LSEG can be found at www.lseg.com

LinkedIn URL: https://www.linkedin.com/company/london-stock-exchange-group/

Twitter handle: @lsegplc

Ikbal Daredia

Ikbal Daredia

Advisor to the CEO

ICD

Ikbal Daredia

Ikbal Daredia

Advisor to the CEO at ICD

Mr. Ikbal Daredia has over 35 years of experience in Islamic banking. Prior to joining ICD, he was Senior Executive Director (Capital Markets and Treasury) of Ibdar Bank BSC. He was also the Global Head of Investment Banking in Bank Alkhair. He has held the positions of Acting Group CEO of Bank Alkhair and CEO of its Malaysian subsidiary Alkhair International Islamic Bank. Prior to that he was the Deputy Chief Executive Officer of Noriba, UBS’s former global Islamic platform for Shari’ah compliant products and services. Prior to Noriba, Mr. Daredia worked for four years with ABN Amro Bank in Bahrain as the Global Head of Islamic Financial Services. Mr. Daredia has originated and executed several Islamic ally structured cross-border transactions for sovereign entities and corporates in Turkey, the GCC countries, the Philippines, India, Pakistan and the United Kingdom.

In 2007, he led the distribution efforts for two Sukuk with a total value of US$1.6 billion issued on behalf of a prominent Saudi corporate. He was also the Noriba project leader for the first ever US$ 750 million Exchangeable Sukuk for Khazanah, Malaysia, and the US$ 350 million first internationally rated corporate Sukuk for Sarawak Corporate Sukuk Inc. (Malaysia), which was jointly led by UBS Investment Bank and Noriba in 2004. Prior to this, in 2001, he worked on the Sukuk issue for Kumpulan Guthrie, Malaysia.

Mr. Daredia is an Associate of the Chartered Institute of Bankers, England.

ICD

Ikbal Daredia

About ICD

The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and is part of the Islamic Development Bank (IsDB) Group.

ICD was established in November 1999 to support the economic development of its member countries through the provision of finance for private sector projects, promoting competition and entrepreneurship, providing advisory services to the governments and private companies and encouraging cross-border investments.

ICD has an authorized capital of $4 billion. Currently, the shareholders of ICD are the IsDB, 55 member countries, and 5 public financial institutions. ICD Rated A2’ by Moody’s, ‘A’ by S&P and, A+ by Fitch.

ICD Mandate and Objectives

ICD has set out its long-term strategic ambition in its 10-Year Strategy that builds on Five strategic pillars:

  1. Focus core offerings in financial institutions (FIs)
  2. Implement innovative products and services
  3. Grow in a financially sustainable way
  4. Serve member countries based on their development needs
  5. Deepen collaboration within IsDB group, FIs and partners

ICD selects new projects based on their contribution to economic development of its member countries considering factors such as job creation, Islamic finance development and overall contribution to SDGs. ICD also provides advisory solutions to governments and private sector entities to encourage the establishment, expansion and modernization of enterprises, development of capital markets, best management practices and to enhance the role of the market economy.

Going forward, ICD will also apply Fintech to make finance more efficient and inclusive for sustainable development. Financial institutions in the ICD member countries will benefit the most from Fintech innovations using AI, robotics, blockchain, data analytics and cloud services. In addition, ICD will build on the platform which is centered on its rich network of Financial Institutions across the globe. Through them, the IsDB Group in general and ICD in particular, would leverage access to the member countries and avail financing opportunities to help them achieving their SDGs.

FOR MORE INFORMATION

Tel: (966-12) 6361400,

Tel: (966-12) 6441644,

Fax: (966-12) 644 4427

Email: icd@isdb.org,

Website: www.icd-ps.org

LinkedIn URL: https://www.linkedin.com/company/icd_ps/