Middle East and North Africa

Middle East and North Africa

Consent Solicitation Neutral to Noor’s Sukuk Ratings

Fitch Ratings says the consent solicitation launched by Noor Bank PJSC (A/Stable/WD) on 17 September 2020, requesting the approval by extraordinary resolution at a...

Saudi Electricity’s Green Sukuk Highlights Investor Appetite for Sustainable Finance

On Sept. 10, 2020, Saudi Electricity Company (SEC, A2 negative) finalized the terms of a multi-tranche $1.3 billion green sukuk. SEC reported an order...

CBB Sukuk Al-Salam Securities Oversubscribed by 304%

The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities has been oversubscribed by 304%. Subscriptions worth BD...

ADIB Signs Preliminary Agreement with Israel’s Bank Leumi

Abu Dhabi Islamic Bank, the biggest Sharia-compliant bank in the emirate, signed a preliminary agreement with Israel’s second largest lender Bank Leumi as the...

Qatar Cultivates First Green Bonds as QNB Raises $600mn

Qatar saw its first green bond issue on Tuesday when Qatar National Bank (QNB) sold $600 million of the notes, making it only the...

Demand for Green Islamic Bonds Gain Momentum in GCC States

Investor appetite for green Islamic bonds, or green sukuks, is growing in the Arabian Gulf countries despite the lukewarm economic growth amidst the ongoing...