| Date | : | 17 Apr 2013 |
| Source from | : | http://english.mubasher.info/portal/DFM/getDetailsStory.html?storyId=2296919&goToHomePageParam=true& |
| Title | : | Dubai Spurs GCC Sukuk To Record Level In 2013 |
| Summary | : | The sukuk market in the GCC continued the upward trajectory in 1Q13, reinforcing growing demand for Islamic debt instruments in the region. The growth was primarily driven by the UAE, which saw some big-ticket corporate sukuk issuances during this quarter with the likes of DEWA, Emirates Airlines and Dubai Islamic Bank, each issuing sukuk worth USD1bln. The hybrid perpetual sukuk issuance by Dubai Islamic Bank was similar in structure that issued by Abu Dhabi Islamic Bank at the end of last year, indicating the growing popularity of raising Tier 1 debt capital through public sale in the GCC. Sovereign sukuk issuances were led by the UAE in the first quarter, the most prominent being the Government of Dubai 10 year USD750mln worth of sukuk issued in January 2013. Total issuances in the UAE are up 124.4% from the same period of 2012 to reach USD3.8bln. Read more |
| |
| Date | : | 17 Apr 2013 |
| Source from | : | http://www.islamicfinancenews.com/listing_article_ID.asp?nm_id=30585 |
| Title | : | Turkey Islamic Banking Sector On The Radar |
| Summary | : | Fresh investment opportunities have emerged in Turkey following the announcement by the government of the establishment of three new Islamic banks — Ziraat Bankasi, Turkiye Halk Bankasi and Garanti Bankasi. There are currently four participation banks operating in Turkey namely Albaraka Turk, Bank Asya, Kuveyt Turk and Turkiye Finans. The country’s participation banking sector saw an advance of 25% in total assets in 2012, while its collective net income grew by 19%. As at December 2012, total assets of participation banks stood at TRY70bln, a growth rate of 24.9% y-o-y from 2011. This is compared to conventional banking total assets growth rate of 13.0% in 2012. Participation banking assets accounted for 5.5% of total banking assets in Turkey as at December 2012, up from 4.6% as at end-2011. Participation banking assets are expected to reach 10.0% of the Turkish banking system total assets by 2018. Read more |
| |
| Date | : | 17 Apr 2013 |
| Source from | : | http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=351483 |
| Title | : | Bahrain Bank Mergers Are Vital |
| Summary | : | Bahrain's financial institutions must seek more mergers to achieve fair competitiveness between Islamic banks and traditional ones, Central Bank of Bahrain (CBB) Governor said. He was speaking at the opening of the two-day Annual Sharia Conference convened by Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). CBB executive director for banking supervision said Bahrain holds 11% to 12% of total assets of Islamic banks worldwide. Read more |
| |
| Date | : | 11 Apr 2013 |
| Source from | : | http://thepeninsulaqatar.com/international-business/232549-new-turkish-regulations-to-allow-wider-us |
| Title | : | New Turkish Regulations to Allow Wider Use of Islamic Bonds |
| Summary | : | Turkey is working on new regulations to allow a wider use of Islamic bonds, a move that could see sukuk issuances employed by the government and corporations for project finance and infrastructure development. Turkish institutions and the Treasury currently only issue the Ijarah type of sukuk, which is among the most widely used internationally. The new regulations would approve the use of Istisna', Murabahah, Mudharabah, Musharakah and Wakalah sukuk. The Capital Markets Board would complete its work on the regulations within a couple of months, and was seeking to ensure the new types were in line with internationally accepted standards for Islamic finance. The development of Turkey’s sukuk market is of interest to countries around the world, since the fast-growing economy could become a major issuer of Islamic debt and influence trends throughout the industry. Turkey’s experience is also seen as a test for Islamic finance in a secularist legal environment and it could serve as a benchmark for Western markets which want to encourage the industry. Turkey issued its first sovereign sukuk last September. It has now issued three sukuk, two of them lira-denominated totalling TRY3.14bln (USD1.75bln) and one dollar-denominated worth USD1.5bln. Read more |
| |
| Date | : | 11 Apr 2013 |
| Source from | : | http://www.amwalalghad.com/en/business/banks/16162-sukuk-law-100-islamic-al-azhars-reservations-on-t |
| Title | : | Sukuk Law 100% Islamic, Al-Azhar’s Reservations on Technicalities |
| Summary | : | Al-Azhar’s Senior Scholars Authority has not rejected the proposed sukuk law and did not say it violates Shariah (Islamic law), but it only has some reservations on some articles of the law, said Mohamed El-Beltagy, head of the Egyptian Islamic Finance Association. The law, which was referred by the Egyptian President Mohamed Morsi to the Senior Scholars Authority for approval, is 100% compliant with Islamic principles, he confirmed. He affirmed that the sukuk law shall be approved as soon as possible so as to save Egypt’s economy. The sukuk law would let Egypt issue bonds compliant with Islamic principles, allowing the state to tap into new areas of finance. Read more |
| |
|
[ 1 - 5 of 1482 ]
Next |
End
|
» Media Centre
» News Highlights
» International News
