Middle East and North Africa

Middle East and North Africa

Islamic Banking Largest Sector, Contributing to 71Pc of Industry’s Assets

The global Islamic finance market is growing moderately, because of the strong investments in the Halal Sectors, infrastructure, and Sukuk bonds, especially through electronic...

STC to Establish USD5 Billion Sukuk Program

Saudi Telecom Company (STC) announced its intention to establish an international sukuk program that would include issues of up to five billion American dollars,...

GCC Corporate Bond, Sukuk Issuance Up 86Pc

The amount of debt issued by non-financial corporate entities in the Gulf Cooperation Council (GCC) virtually doubled last year as governments either sold stakes...

Turkey’s Emlak Bank Opens New HQ as It Returns as Islamic...

Emlak Bank, a state-run lender caught in the middle of a financial crisis in the late 1990’s, re-opened on Thursday as an Islamic bank. The...

Dana Gas Repurchases $133m Sukuk

Dana Gas, the Middle East’s largest regional natural gas company, announced on Sunday that it has bought back a total of $133 million Sukuk...

QIB Successfully Completes Issuance of $750Mn Sukuk

Qatar Islamic Bank (QIB) has successfully priced a $750mn five-year sukuk at par with a profit rate of 3.982%, which is equivalent to a...