GIES Virtual Series: Sustainability Considerations  are Key in Developing New Sukuk Instruments

GIES Virtual Series: Sustainability Considerations

Industry veterans unanimously agree on strong performance of sukuk over past year, potential that lies ahead Fifth GIES Virtual Series webinar titled ‘The New Age of Digital Retail in light of the Pandemic’, is scheduled for Tuesday, 13 October, at 11am – UAE time  The Dubai Islamic Economy Development Centre (DIEDC), in collaboration with the Dubai Chamber of Commerce and Industry (Dubai Chamber) and in strategic partnership with Refinitiv, hosted the fourth session of the GIES Virtual Series webinar that examined the opportunities and challenges in the sukuk market. Moderator…

Sharjah Government initiates 4 billion dirham Sharjah Liquidity Support Mechanism to alleviate economic impact of COVID-19

Sharjah, United Arab Emirates,  (AETOSWire): Sharjah Finance Department (SFD) recently established a framework worth AED 4 billion to enhance liquidity for the Sharjah banking system in the emirate. This move was aimed at providing additional financial assistance to all businesses impacted by the outbreak of COVID-19. Issued as 12 month dirham-denominated paper in several tranches, the Sharjah Liquidity Support Mechanism (SLSM) sukuk represents the first rated short term local currency tradeable instrument in the UAE, which can be used for liquidity management by banks. This paper has a short term…

Arabian Centres successfully completes a refinancing of USD 1.9 billion including a 4 times oversubscribed USD 500 million sukuk

Riyadh, Saudi Arabia, 20 November 2019:( AETOSWire)- Arabian Centres Company (“ACC” or “the company”), the leading owner, developer and operator of lifestyle shopping centres in Saudi Arabia, announced today the completion of the offering and pricing of its USD 500 million Sukuk issuance, part of a successful USD 1.9 billion refinancing package comprising both the Sukuk and new bank debt, with settlement of the Sukuk to take place on 26 November 2019. The fixed-rate, US dollar-denominated Sukuk, with a tenor of 5 years, carries a coupon rate of 5.375%. The…