• Gulf sukuk issue runs into trouble

  Saudi Arabia's Dar Al Arkan Real Estate will likely issue a five-year fixed rate Islamic bond worth between $500 to 750 million by the end of the week, two bankers with knowledge of the deal told Reuters... 7Days - 09Feb10

• Indonesia sells $850 million worth of Islamic bonds

  Indonesia has sold more than 850 million dollars worth of Islamic bonds to domestic retail investors, three-times more than its target, officials... AFP - 08Feb10

• Indonesia's IDR8.033 Tln Retail Sukuk Sale Beats Target

  Indonesia has attracted strong demand for its second retail sukuk, allowing the government to issue far more of the Islamic debt than its original plan, the finance ministry... Zawya Dow Jones News - 08Feb10

• Huge potential for Islamic finance in Kenya

  Kenya is fast developing as the Islamic finance hub of East Africa. The Central Bank of Kenya (CBK) has already licensed two Islamic banks - Gulf African Bank (GAB) and First Community Bank (FCB) - under CAP 488 of the Banking Act of... Arab News - 08Feb10

• New Irish finance bill to facilitate sukuk transactions

  Following the introduction of tax neutrality laws to facilitate the issuance of sukuk by the UK, France and Luxembourg in recent weeks, Ireland is the latest European Union (EU) country to join the... Arab News - 08Feb10

• $500mn Bond

  Qatar Islamic Bank, the country's second-largest lender by value, is preparing to tap the global debt markets with a bond issue worth at least $500mn, according to people familiar with the... Zawya Dow Jones News - 07Feb10

• Indonesia May Sell Yen Bond In May Or June; Global Sukuk 3Q

  The Indonesian government may launch its planned $750 million to $1 billion yen-denominated bond in May or June, the government's top debt official said.... Zawya Dow Jones News - 05Feb10

• Moody's reports: Covered bond ratings under pressure as issuers' credit strength weakens

  London, -- The downward pressure on covered bond ratings in Europe, the Middle East and Africa (EMEA) experienced during 2009 is set to continue in 2010, Moody's Investors Service says in its 2010 Outlook & 2009 Review report for this asset class. Given... Press Release - 04Feb10

• Almana Sukuk Limited - Periodic Distribution due on February 15,2010

  It is hereby confirmed that the next periodic distribution due on AED 600 million Trust Certificate maturing 2013 issued by Almana Sukuk Limited will be paid on the due date, February 15, 2010.-Ends-© Press Release... Press Release - 04Feb10

• Saudi Al Aqeeq Picks NCB Capital To Manage IPO, Sukuk Issues

  Saudi Arabia's Al Aqeeq Real Estate Development Co. said Wednesday it appointed NCB Capital, the investment banking arm of National Commercial Bank, to manage its upcoming capital raising and sukuk issues.... Zawya Dow Jones News - 03Feb10

• Beyond The Gulf

  Islamic finance is likely to advance in 2010 on firm growth and a widening geographic reach, according to a new report by Standard &... Emirates Business 24/7 - 03Feb10

• DMCC to settle its $300m Islamic bond by May 2010

  Dubai's Multi Commodity Centre (DMCC), a unit of state-owned conglomerate Dubai World, will not be involved in the repayment of the firm's $22 billion (Dh80.7bn) debt, its chief executive... Emirates Business 24/7 - 02Feb10

• Syarikat Prasarana To Raise MYR3 Bln Via Islamic Bonds-Report

  Malaysian government-owned infrastructure company Syarikat Prasarana Negara Bhd is seeking to raise MYR3 billion ($882.4 million) via new Islamic bonds, or sukuk, to fund its light rail transit extension projects, the New Straits Times reported... Zawya Dow Jones News - 01Feb10

• Islamic Finance Is Likely To Grow

  Just when many of the world's financial systems have been working to weather the capital market turmoil and its spread to economies around the globe, Islamic finance growth has stayed strong and will likely be brisk during the next year, said Standard &... Press Release - 01Feb10

• UK gears up to issue first corporate sukuk

  The UK government may be stalling on the issuance of a sovereign sukuk in the wholesale sterling market, but the country took a step nearer to facilitating the issuance of the first UK corporate... Arab News - 01Feb10

• Islamic finance gaining major support in Britain

  "Islamic finance is, and will continue to be, an important part of the government's overall commitment to ensuring a competitive financial services sector in the UK," reiterated Sarah McCarthy-Fry MP, exchequer secretary to Treasury, in London at a... Arab News - 01Feb10

• Moody's downgrades Aldar to Baa2, ratings kept on review

  pproximately USD 2.3 billion of rated debt instruments affected DIFC, January 28, 2010 -- Moody's Investors Service today downgraded the ratings for Aldar Properties PJSC (Aldar), the Trust Certificates (sukuk) issued by Sukuk Funding (No. 2) Limited and... Press Release - 28Jan10

• Sime Darby Lists MYR4.5 Bln Sukuk On Bursa Malaysia

  Sime Darby Berhad (4197.KU) Thursday listed its Malaysian Ringgit Sukuk Programme on Bursa Malaysia with a Combined Master Limit of MYR4.5 billion under the Exempt... Zawya Dow Jones News - 28Jan10

• QFCA chief debunks Islamic finance myth

  It's a myth to assume Islamic finance products are safer than conventional products and underlying risks should be studied more carefully, Qatar's top regulator said yesterday.... The Peninsula - 28Jan10

• The World's Sukuk Market Has Good Medium-Term Growth Prospects

  Medium-term growth prospects for the world's sukuk market are good, said Standard & Poor's Ratings Services in a report published... Press Release - 28Jan10

• S&P Rates Saudi Homebuilder Dar Al Arkan 'BB-'; Outlook Stable

  Saudi real estate developer Dar Al Arkan operates in generally speculative, cyclical, and capital-intensive land development and homebuilding activities, and in the still-opaque and immature Saudi housing market. ... Zawya Dow Jones News - 26Jan10

• Moody's Downgrades Nig To B1, Maintains Negative Outlook

  Moody's Investors Service today downgrades the Corporate Family (CFR) and Probability of Default Ratings (PDR) of National Industries Group Holding S.A.K. (NIG) and the debt ratings on the USD 475 million sukuk issued by NIG Sukuk Limited to B1 from Ba3.... Zawya Dow Jones News - 26Jan10

• DMCC To Pay $20M Installment On $200M Sukuk In 2Q

  The Dubai Multi Commodities Centre, part of Dubai World, plans to pay the final installment on its five-year $200 million sukuk, or Islamic bond, in the second quarter of 2010 as scheduled, its chief executive officer... Zawya Dow Jones News - 26Jan10

• Transparency Post Bond Issue Is Critical - Barclays

  Barclays Bank calls on bond issuers in the Gulf region to have better investor relations post issue and to ensure that the market has full information to price their debt in the secondary market... Zawya Dow Jones News - 26Jan10

• Increase in Dubai's bond issue boosts GCC debt market

  An upsurge in Dubai's bond issue sharply boosted the debt market in Gulf oil producers in the fourth quarter of 2009 and it is poised for further recovery in 2010 as banks remain tight, said a Saudi investment... Emirates Business 24/7 - 26Jan10

• UK Retains Dominance In Islamic Finance Amid Downturn - Report

  The U.K. has retained its position as the world's leading center for Islamic finance but that market has shrunk dramatically, as a consequence of the economic downturn and investor concerns about Dubai World's financing problems, according to a report... Zawya Dow Jones News - 26Jan10

• CBB Sukuk Al-Salam Securities Oversubscribed

  The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities has been... Press Release - 25Jan10

• Arab Gulf Bond Mkt Could Grow In 2010 But More Confidence Needed

  The Arab Gulf's primary bond market may grow by 20% this year to around $45 billion, boosted by a global financial recovery and the expected restructuring of some of Dubai's debt pile, bankers... Zawya Dow Jones News - 25Jan10

• Hub For Islamic Finance

  Luxembourg took an important first step toward developing the Duchy into the latest European hub for Islamic finance, especially Islamic capital markets, when it published last week a new tax circular on the treatment of a whole range of Islamic finance... Arab News - 25Jan10

• '2010 a promising year for sukuk market'

  Raja Teh Maimunah is the brave new face of the Malaysian Islamic capital market. As the global head of Islamic capital markets at Bursa Malaysia Berhad, the national stock exchange, she is responsible for putting the bourse on the global map in the field... Arab News - 25Jan10

• Mature Debt Markets Can Bring Stable Access to Capital

  The development of debt markets can enhance the ability of governments and corporates in the Middle East and North Africa (MENA) region to raise funds efficiently and cost-effectively for infrastructure and development needs, according to the latest... Press Release - 24Jan10

• The glass half....

  January 2010France, the UK, India, Indonesia, Thailand and Korea are all wondering if the time has come to thaw out their suspended-animation Sukuk as another year of unknowns rolls in. Meanwhile, Malaysia tries to figure just what needs to be done as it... Islamic Business and Finance - 24Jan10

• Island growth

  January 2010Despite being a relatively new concept in Singapore, Islamic finance has been spreading fast, sparked by the successes of the Malaysia and Indonesia. Isla MacFarlane reviews Singapore's efforts to become an Asian Islamic financial centre to... Islamic Business and Finance - 24Jan10

• Another false dawn?

  January 2010Product launches, a lack of market penetration in North Africa and no single set corporate governance standards are the big issues as Takaful enters an uncertain 2010. Will Takaful finally lose its niche status in 2010 asks Mike Gallagher?... Islamic Business and Finance - 24Jan10

• Indonesia Offers 8.7% Return On Retail Sukuk - Official

  Friday, Jan 22, 2010JAKARTA (Dow Jones)--The Indonesian government is offering a return of 8.7% on a IDR3 trillion ($318 million) sukuk it plans to offer to domestic retail investors from Monday, the Finance Ministry said Friday.The three-year Islamic... Zawya Dow Jones News - 22Jan10

• Tamweel Sukuk Limited - Periodic Profit Distribution

  Tamweel PJSC is pleased to announce the Periodic Profit Distribution Amount of AED 11,484,682.00 for the Periodic Distribution Period commencing 21st January 2010 to but excluding 21st April 2010 on its AED 1,100,000,000 Trust Certificates due 2013. The... Press Release - 21Jan10

• Axiata Plans MYR4B Islamic Bonds, Of Up To 10 Years -Source

  Malaysian cellular phone operator Axiata Group Bhd. (6888.KU) plans to sell up to MYR4 billion ($1.19 billion) in sukuk bonds to raise funds for loan repayment, the latest sign of a resurgence in Islamic finance in... Zawya Dow Jones News - 21Jan10

• Saudi Homebuilder Dar Al Arkan Rated 'BB-' With A Stable Outlook; Proposed Sukuk Notes Assigned 'BB-' Rating

  Saudi real estate developer Dar Al Arkan operates in generally speculative, cyclical, and capital-intensive land development and homebuilding activities, and in the still-opaque and immature Saudi housing market.We are assigning a 'BB-' long-term rating... Press Release - 20Jan10

• Moody's assigns Ba2 to Dar Al-Arkan and proposed sukuk issue

  Moody's Investors Service today assigned a Ba2 Corporate Family Rating (CFR) to Dar Al-Arkan Real Estate Development Company, Saudi Joint Stock Company (DAAR) and a Ba2 Probability of Default Rating (PDR).... Press Release - 20Jan10

• Nakheel Pays Coupon on $750m Bond

  Property developer Nakheel, owned by Dubai World, on Tuesday said it had paid the coupon on its $750 million bond maturing in... Khaleej Times - 20Jan10

• IDB seeking to increase size of MTN

  The Islamic Development Bank is currently in the process of increasing the size of its medium-term note (MTN) program. This will enable it to go for more issuance of sukuk (Islamic bonds) as and when required under its new resource mobilization... Arab News - 20Jan10

• Indonesia Raises IDR950 Bln From Sukuk Auction Vs IDR1 Tln Target

  The Indonesian government Tuesday raised IDR950 billion from a sukuk auction, slightly below its target of IDR1 trillion, the finance ministry... Zawya Dow Jones News - 19Jan10

• ETA Star Property puts on hold plan to raise funding

  ETA Star Property Developers, part of ETA-Ascon Group, has put on hold its plans to raise funding through sukuk and fund issue, citing unfavourable market conditions, a top company executive... Emirates Business 24/7 - 19Jan10

• = 4thUPDATE: Dubai's $10B Bailout From Abu Dhabi Shrinks

  Monday, Jan 18, 2010(Adds comments.)By Maria Abi-HabibOf ZAWYA DOW JONESDUBAI (Zawya Dow Jones)--Dubai's $10 billion bailout from oil-rich Abu Dhabi, which helped it narrowly avoid a default in December, is half the size that the government initially said... Zawya Dow Jones News - 18Jan10

• Encouraging Sukuk

  It makes it easier to analyse the growth prospects of the Sukuk market if we look at the considerations facing each stakeholder in this market, says Fawad Hussain, Head of Islamic finance at... Zawya Select - 17Jan10

• HSBC Ups Dar Al Arkan To Overweight Vs Neutral

  HSBC upgrades Dar Al Arkan to overweight from neutral rating. Also lifts target price to SAR19.5, from... Zawya Dow Jones News - 17Jan10

• France seeks Islamic financial system

  A strictly secular European heavyweight, France is seeking to adopt the Islamic financial system just as a prelude to becoming a European center for Islamic... KUNA (Kuwait News Agency) - 16Jan10

• Alaqaria Rating Agency Updates

  Qatar Real Estate Investment Company noted as a positive development the announcement by Fitch that it has placed the company's Long term Issuer Default (IDR) rating and senior unsecured ratings of BBB+ on Rating Watch Positive.... Press Release - 16Jan10

• Bahrain-Based Gulf Finance House Lowered To 'B+' And Placed On CreditWatch Negative

  Standard & Poor's Ratings Services lowered its long-term counterparty credit rating on Bahrain-based Gulf Finance House G.S.C. (GFH) to 'B+' from 'BB+' and affirmed its 'B' short-term rating.... Press Release - 14Jan10

• Malaysia Central Bank Sells July 2013 Sukuk At Average 3.288%

  Thursday, Jan 14, 2010KUALA LUMPUR (Dow Jones)--Malaysia's central bank Thursday sold MYR3.0 billion worth of July 2013 Government Investment Issues at an average yield of 3.288%The sale of the new three-year Islamic paper drew a bid-to-book ratio of 2.12... Zawya Dow Jones News - 14Jan10