Tag: islamic

Indonesia reopens the sovereign sukuk market with a five-year deal that diversifies the country's investor base. Humayan Dar, chief executive officer of BMB Islamic UK, discusses new developments in Shar'iah-compliant finance. Singapore’s City Developments will launch a S$1 billion Islamic MTN programme arranged by CIMB-GK Securities. Tax legislation is key to attracting Islamic products and services to Hong Kong, says PricewaterhouseCoopers. The bank launches commodity Murabaha investment and Islamic hedging products in Singapore. Index providers also adapt their key indices to include the Bank of China. New index expected to increase cross-market trading. HSBC pairs up with a Malaysian insurance company and the nation''s provident fund to create an Islamic insurance company. Badlisyah Abdul Ghani, head of CIMB Islamic, explains why Malaysia stands at the forefront of Islamic financing. Cagamas securitizes government''s Islamic home financing. The multilateral agency prices its first Islamic bond in Malaysia. HSBC closes the books on Malaysia''s first true corporate sukuk Ijara. The government decides to wait until its budget presentation before deciding lead managers for the country''s forthcoming Islamic global bond. The leading Malaysian conglomerate comes to market with a long awaited deal. The Philippines'' major telecom company closes its first Islamic financing deal. After a see saw couple of days for Malaysian credits, HBSC scores a resounding success with an increased $600 million issue for the sovereign. HSBC will lead manage a roughly $400 million to $500 million 144a issue for the sovereign as it attempts to diversify its investor base and deepen the market for Islamic products. A successful bond issue for toll-road operator Silk sets a new benchmark in Islamic finance. For the first time, bonds structured under Islamic concepts have been sold in Singapore. Elite, the subsidiary of Malaysia''s giant UEM, is readying a M$1.8 billion Islamic bond.