Islamic Finance MENA Edition

islamic finance

Shares in Bahrain's GFH slide as it acquires $1.2bln assets via equity issue

Shares in Bahrain's GFH Financial Group fell sharply on Tues as the firm said it had acquired $1.2billion of infrastructure assets in Africa and the Middle East.

construction

Bahrain's GFH acquisition of $1.2bln infrastructure portfolio in Africa, Middle East

GFH acquires more than 200 million square feet across Africa, GCC and India.

saudi arabia

MARC affirms Islamic Development Bank's financial institution ratings

MARC has affirmed its long- and short-term financial institution (FI) ratings of AAA and MARC-1 respectively on Islamic Development Bank (IsDB).

bonds

Dubai's Meraas Holding issues $200mln tap of private sukuk due in 2022

The $200 million of private sukuk, due in May 2022, were priced at a 4.991 percent.

islamic finance

Saudi Arabian developer Jabal Omar to raise $1.1bln via sukuk

The company, which has taken out bank loans over the past few years to back its flagship development in Mecca, may start issuing the Islamic bonds over the next few months: sources

real estate

Lootah Real Estate Development ties up with Amlak Finance

Partnership with Amlak Finance will allow Lootah's customers the opportunity to own more than just one property.

islamic finance

Egypt launches first state-run takaful insurance firm

Egypt’s first government-owned takaful insurance company is expected to commence operations within six months: minister

islamic finance

UAE Islamic banks expected to report better profits in 2017

UAE Islamic banks’ performance in 2016 was hit by higher funding costs and financing impairment charges: Fitch

financial services

Total short-term deposits in UAE banks surge to $120bln in H1

Short-term deposits secured progressive growth since the beginning of 2016.

bonds

Jordan approaches banks for dollar bond or sukuk issue

Jordan has asked banks to submit proposals to arrange a U.S. dollar conventional or Islamic bond issue.