IslamicFinance.de

Difficult funding in Europe is making Middle East issuers to tap the still-liquid Islamic finance markets for funds.
Dubai-based Emirates Islamic Bank issued a $500 million, five-year Islamic bond with a yield of 4.718%, while Abu Dhabi-based First Gulf Bank sold a $500 million, five-year sukuk with a yield of 4.046%.
Moreover, Saudi Arabia's General Authority of Civil Aviation stated it plans to launch a government-guaranteed sukuk to pay for a new terminal at Jeddah airport, and Dubai-based Islamic mortgage company Tamweel announced a five-year, $300 million sukuk.
Majid Al Futtaim recently started a $1 billion Islamic bond program, while Doha Bank, Bahrain's Al Baraka Banking Group, Emirates Telecommunications Co. of the United Arab Emirates and Abu Dhabi National Energy Co., among others, could all be looking to issue Islamic debt this year.