IslamicFinance.de

Several borrowers plan to offer sukuk such as the Saudi Electricity Co. which has already started to arrange investor meetings. The Malaysian construction company IJM Corp plans to sell up to 3 billion ringgit ($910 million) of Islamic bonds. Moreover, the Omani Bank Muscat plans to set up a 500-million rial ($1.3 billion) sukuk program and sell up to 1 billion rials of Shariah-compliant debt in Saudi Arabia. Besides, Malaysia’s Maybank Islamic has reportedly set up a 10 billion ringgit Basel III sukuk program. On the other hand, U.A.E.’s First Gulf Banks planned 3.5 billion ringgit sukuk program was assigned a AAA rating by RAM Rating Services. Furthermore, the governments of Oman and Pakistan are considering selling sukuk this year, among others.