The move is part of its strategy to improve government debt indicators by diversifying funding sources
Islamic bonds
Latest in Islamic bonds
Islamic bank
Islamic finance industry to hit $5.9tn by 2026
Islamic finance measured at $4tn in 2021 and is set to grow
Al Rajhi Bank
Saudi banking giant Al Rajhi issues $1.7bn sukuk amid high investor demand
Chairman says issuance marks the largest by a financial institution in the kingdom
Bond funding
Sharjah said to hire banks as bond rush picks up pace
Emirate’s budget could be in the red through 2024, according to S&P Global Ratings, which forecasts the deficit will surge past 10% of gross domestic product this year
Aramco IPO
Aramco sells $6bn of dollar-denominated Islamic bonds
Firm is raising cash to help finance its plans to pay out $75bn in dividends
Aramco IPO
Aramco starts debut sale of dollar-denominated Islamic bonds
State-controlled oil giant is raising cash to help finance its plans to pay out $75bn in dividends
Emirates REIT
Dubai property fund rescinds debt offer after bondholders revolt
Emirates REIT said 57% of voting sukuk-holders were in favour of its exchange offer, falling short of the 75% it required to push through the proposal
International debt markets
Oman is planning a second debt sale in 2021 with dollar sukuk
Sultanate’s public finances, long among the weakest in the Gulf Arab region, remain vulnerable to oil-price swings and disruptions from the global coronavirus pandemic
Aramco IPO
Saudi Aramco hires banks for debut dollar Islamic bond sale
State-controlled company may offer three tranches of notes due in three years, five years and 10 years
Emirates REIT
Dubai property fund unmoved by renegade creditors in debt clash
Emirates REIT, whose portfolio ranges from schools to office space, has said it needs to improve its balance sheet after the global pandemic compounded a property slump in Dubai
Emirates REIT
Emirates REIT debt exchange offer rejected by group of creditors
Shariah-compliant real estate investment trust last week offered to exchange the unsecured sukuk securities due in 2022 for new secured notes maturing in 2024
dollar bond
Saudi Arabia weighs selling dollar sukuk as soon as October
With one of the world’s lowest debt levels, Saudi Arabia has been one of the biggest issuers in emerging markets
home ownership
Saudi Arabia’s Freddie Mac plans sukuk to raise $267m
Saudi Real Estate Refinance Co, the kingdom’s first mortgage-refinancing firm, eyes Islamic bond by year-end
Dubai construction sector
Emaar hires banks ahead of potential sukuk issuance
Emaar Properties said to plan to issue 10-year sukuk after meeting investors in Asia and London
Islamic banking
Opinion: why the future is bright for sukuk investment
Over the past 15 years, Islamic bonds have recorded upward trajectory in terms of issuance
Alain Bejjani
Majid Al Futtaim IPO ‘not on the table’, despite strong sukuk demand, says CEO
The Dubai-based ratailer’s green sukuk was a first for the region and was six times oversubscribed
Expo 2020 Dubai
GCC Islamic banks set to show ‘resilience’ over next two years
S&P Global Ratings forecasts mid single-digit growth for Islamic banks operating in the Gulf region