KARACHI: The movement of international oil prices will decide the fate of the rupee during the next week. Currently, the rupee is stable, owing to the inflows received from a lending agency and the proceeds of the Sukuk bond. The exchange rate for the week ended February 11, 2021 closed at Rs174.71 against the greenback … Read more
KARACHI: Moody’s has assigned a B3 rating to the proposed US dollar-denominated trust certificates (Sukuk) issuance by the government of Pakistan, a statement said. The Sukuk will be issued through the Pakistan Global Sukuk Programme Company Limited, a special purpose vehicle, which is wholly-owned by the government and whose debt and trust certificate issuances are, … Read more
KARACHI: Moody’s has assigned a B3 rating to the proposed US dollar-denominated trust certificates (Sukuk) issuance by the government of Pakistan, a statement said on Tuesday. The Sukuk will be issued through the Pakistan Global Sukuk Programme Company Limited, a special purpose vehicle, which is wholly-owned by the government and whose debt and trust certificate … Read more
RIYADH: The Saudi government offered denominated Sukuk in Saudi riyals worth SR415 million ($110.5 million) for the December issuance, the National Debt Management Centre announced. The issuance comes under the kingdom’s riyal-denominated Sukuk programme. The first tranche had a size of SR200 million and matures in 2029, while the second tranche was valued at SR215 … Read more
RIYADH: Saudi Real Estate Refinance Company has completed issuing a SR2 billion ($533 million) Sukuk to support lenders in the kingdom’s housing market, Arab News reported. The 10-year Sukuk was issued at a fixed profit rate of 3.04 per cent marketed to Saudi institutional investors, the deal was oversubscribed 2.5 times, the company said in a statement. … Read more
RIYADH: Three special deals were completed on Tuesday in the Saudi Sukuk and bond market, with a total value of SR51.7 million ($13.7 million), Arab News reported. Special deals are orders executed when a seller and a buyer agree to trade specific securities at a certain price in order to comply with the Saudi Stock Exchange, Tadawul. … Read more
RIYADH: Saudi Arabia’s government offered SR-denominated Sukuk worth SR614.179 million ($164 million) for the November issuance, Arab News quoted the National Debt Management Center (NDMC), as saying in a statement. The issuance comes under the Saudi Arabian government SR-denominated Sukuk programme. The kingdom collected a total amount of SR74.2 billion of Sukuk in monthly issuances … Read more
RIYADH: Emirates Islamic, the Dubai-based bank, has said it has closed a $500 million five-year Sukuk issuance deal as part of its $2.5 billion Certificate Issuance Programme, Arab News reported. The issuance, rated A+ by Fitch, is listed on the Nasdaq Dubai and Euronext Dublin’s regulated market. The order book amounted to $1.2 billion, which is 2.4 … Read more
RIYADH: The global index provider FTSE Russell said it will add Saudi Arabian local currency government Sukuk to the FTSE Emerging Markets Government Bond Index (EMGBI) after its market accessibility level was upgraded, Arab News reported. Riyal-denominated Sukuk will join the EMGBI from April 2022 and will comprise 2.75 per cent of the index on a market … Read more
The finance ministry of Saudi Arabia has said that the Kingdom raised 8.495 billion riyals ($2.27 billion) in sukuk, or Islamic bonds, in June. The first tranche of the sukuk issue is 2.494 billion riyals, and the total tranche size is 5.017 billion riyals, maturing in 2027, a ministry statement said. The second tranche has … Read more
