IslamicFinance.de

As economic recoveries and high crude oil prices revive the market, global sales of Islamic bonds are expected to rise nearly 60 percent this year.
Issuance fell 26 percent to $14 billion in 2010 in the aftermath of Dubai’s debt restructuring and high-profile sukuk defaults. That estimate excludes issues which are callable in less than a year, those which are not rank eligible or underwritten and self-funded ineligible issues.

The U.K., Europe’s largest market for Shariah-compliant financial products and services, canceled what would have been the first sale of Islamic bonds by a Western federal government as issues fell 15 percent in 2010.
Growth in Europe’s Islamic financial hub has been hampered by slowing economic expansion and the government’s attempt to plug a budget deficit.

France plans to develop Islamic finance and attract investment from the Gulf to its economy.
The first Islamic bond from France may be sold in early 2011 after the government introduces guidelines for sukuk offerings.
The aim of France is to boost exports to the region by coordinating them with small- and medium-sized enterprises.

Jamil El-Jaroudi, chief executive of Bahrain-based Elaf Bank, has unveiled plans to arrange Islamic bonds in South East Asia.
The Islamic investment bank won a mandate to act as financial advisor on sukuk issues in Malaysia and Indonesia.

Pembinaan BLT plans to sell 10 billion ringgit of Islamic bonds to fund upgrades to national police facilities.
The sukuk issuance will be the biggest in the Southeast Asian nation in more than three years.
The sukuk program will have a maturity of up to 25 years, with CIMB Investment Bank acting as principal adviser and lead arranger.

The U.K., Europe’s largest market for Shariah-compliant financial products and services, canceled what would have been the first sale of Islamic bonds by a Western federal government as issues fell 15 percent in 2010.
rowth in Europe’s Islamic financial hub has been hampered by slowing economic expansion and the government’s attempt to plug a budget deficit.

Kazakhstan’s government expects to pass legislation within the next two months. This legislation will enable companies to sell Islamic bonds.
Kazakhstan has reportedly identified two prospective issuers for its flagship corporate sukuk, one a South East Asian company registered in Kazakhstan, and a local company, Yerlan Baidaulet.

The sukuk market may well be set to bounce back after suffering badly in the global financial downturn.
The value of sukuk has jumped 61 per cent in the past year.
Trowers & Hamlins says that the sukuk market was hit much harder by the credit crunch and global financial crisis than the conventional bond market in the Gulf.

Saudi Arabia’s civil aviation authority is eyeing sale of Islamic bonds, or sukuk, in several tranches to finance a modernisation of the kingdom’s airports.

The lack of long-term investment products is undermining growth in Malaysia's Islamic insurance industry, spurring calls for more sukuk maturing beyond 10 years in the world??s biggest market for the debt.

Brazil’s first Islamic bond may be a private sale by a company in 2012.
Daud Vicary Abdullah, global Islamic finance leader at Deloitte Corporate Advisory Services Sdn. has pointed out that he thinks that it will be a corporate.

Indonesia plans to issue a 3-year maturing sukuk for retail investors on Feb. 23.
The sukuk, or Islamic bond, will be offered to all individuals with Indonesian citizenship, to widen the investor base.

Yemen is planning to issue Islamic sukuk, or Islamic bonds, to diversify government financing and help lower a budget deficit currently running at around 8% of gross domestic product.
Experts and Islamic banks in Yemen recommended the issuing of Islamic bonds. In this regard, the participants of the second conference of Yemeni Islamic banks, held in May, recommended the need to carry out standards for the issuance of Islamic bonds because of their benefit to the community development.

MALAYSIA Debt Ventures Bhd (MDV) will focus more of its activities on Islamic financing this year
The company was determined to support the government's effort to promote Islamic finance and use the funds raised from sukuk issues to finance development projects.

Tenders for sale of 3-year Government of Pakistan Ijara Sukuk (GIS) have been invited by the Director, Domestic Markets & Monetary Management Department (DMMD), State Bank of Pakistan, from the designated primary dealers in accordance with the provisions FSCD circular No 15 dated 29th October 2010.

Arabian Gulf borrowers are selling ringgit-denominated Islamic bonds at a record pace in Malaysia to raise funds for expansion and take advantage of demand in the world’s biggest market for Shariah-compliant bonds.
Dubai’s government is “likely” to sell bonds next year and a Malaysian offering is a possibility.

Work on the feasibility study on the sukuk origination is set to start this month, after the President Rustam Minnikhanov of the Russian republic of Tatarstan has visited Malaysia in December and the signing of a memorandum of understanding (MoU) in Kuala Lumpur between the Tatarstan government, the local IFC Linova, Malaysia's Amanah Raya Berhad Group and Kuwait Finance House Malaysia (KFH Malaysia).

Nakheel, the real-estate unit of Dubai government-owned conglomerate Dubai World, said the Dubai Financial Support Fund has given it enough money to repay its $750 million Islamic bond, or Sukuk, that matures on Jan. 16.

DP World Sukuk confirmed the payment of its periodic distribution for $1,500m trust certificates due 2017.
Profits from the beginning of July to the end of December will be distributed to Sukuk Holders on 4 January.

DP World Sukuk Limited confirms the the payment of its periodic distribution for DP World Sukuk Limited, USD 1,500,000,000 Trust Certificates due 2017.