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Islamic Finance

VIDEO: Martin Egan at BNP Paribas Talks GCC DCM Pipeline, Oil and Geopolitics, and LIBOR

Martin Egan, Vice Chairman of Global Markets at BNP Paribas sat down with Bonds & Loans at the Bonds, Loans & Sukuk 2018 conference in Dubai to talk about the GCC debt capital markets pipeline, the delicate balance between oil price and regional volatility for investors, and potential replacements for LIBOR.

SkyWorld Development CFO on Issuing Malaysia’s First Musharakah Sukuk, IPO Plans, and Reform

Malaysia is currently in the midst of significant political change, and the country’s borrowers seem optimistic about the renewed urgency around fiscal reform. We speak with Andy Leong Chain Hong, CFO of SkyWorld Development Group, a leading property developer in Malaysia, about the direction of the economy following the country’s landmark elections, and discuss the company’s pioneering Musharakah sukuk.

Dar Al-Arkan CFO: “We are facing 4 years of clear skies to use our operational cash flow”

The Saudi real estate developer continues to be one of the most active corporates on the GCC Islamic finance markets, with its latest USD500mn sukuk pushing the total value of the company’s Shariah-compliant instruments listed on Nasdaq Dubai to USD1.85bn. Bonds & Loans speaks with Mika Toivola, Chief Financial Officer, Finance Group, Dar Al-Arkan, about the latest trends in the sector and the company’s funding plans.

Off the Record: Issuers, Investors Upbeat on Sovereign Sukuk Prospects

Participants at an exclusive Sovereign Sukuk Roundtable hosted by Bonds & Loans and Emirates NBD Capital were upbeat about the benefits sukuk bring for both borrowers and investors, but concerns around thin liquidity, a lack of standards, and regulatory uncertainty have prompted difficult questions about the outlook for the asset class.

Maybank Islamic Banking Chief: “Projected global sukuk demand outstrips supply”

With demand for sukuk rising steadily in recent years, Bonds & Loans speaks with Dato’ Mohamed Rafique Merican, Group Head and Islamic Banking CEO at Maybank Islamic Berhad, about the risks and opportunities in the market, green sukuk, and the growing involvement of Asian investors in MENA debt markets.

Case Study: Indonesia Serves Up Benchmark-Setting Green Sukuk

Indonesia navigated a challenging and volatile market to place a USD3bn dual-tranche green sukuk, which will go towards supporting the country’s efforts to combat climate change.

GCC Corporates Adapt to New Normal – but Hopes for Bond Market Revolution Could be Dashed

Gulf sovereigns tapped the debt market on an unprecedented scale over the past couple of years as banking liquidity tightened and the hunt for yield pushed investors into new territory, setting the stage for more non-financial corporate bond issuance and a huge funding culture shift among the region’s enterprises. But there may be reason to believe what began to be seen as a funding revolution in the region could be stopped in its tracks.

CASE STUDY: Albaraka Turk Makes History with Turkey’s First Additional Tier 1 Deal

Albaraka Turk extended its reputation as a pioneer in the sukuk market last month, issuing the country’s first Basel III-compliant Additional Tier 1 capital notes – in a Sharia-compliant privately placed, publicly listed format, no less.

Interview with TDB Treasurer: First Islamic bond deal as part of diversification strategy

The Eastern and Southern African Trade and Development Bank, known more commonly as TDB and, formerly, PTA Bank, is a specialized African regional FI - one of the fastest growing investment grade rated multilateral DFIs on the continent. We speak to Abraham Byanyima, Treasury Executive, about the bank’s recent dual-tranche conventional & Islamic bond, East Africa’s private banking industry and TDB’s borrowing plans.

Bonds & Loans Turkey Awards: Winners in 2018

Despite a conspicuous rise in tensions between Turkey and some of its closest neighbours and allies, the country finished 2017 as one of the fastest growing economies in the world – thanks in part to an unprecedented fiscal stimulus that helped among other things stoke the continued deepening of the capital markets. Against that backdrop, a number of leading issuers and borrowers once again set new benchmarks in the credit markets for 2018, securing a number of ‘firsts’ while making the market more robust.

 

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