Islamic Development Bank plans sukuk offering to raise $850m

The Islamic Development Bank (IDB) based in Jeddah, Saudi Arabia, the financial arm of Wahhabi dawa’h operations, is set to issue another Sukuk to fund its global operations…

Jordan Studies Issuing of Sukuk

The Jordanian government is working to speed up the use of Shariah-c0mpliant financing tools and has recently formed a committee to study issuing a sukuk (Islamic bond)…

Going Back to the Scene of the Crime: Low Sukuk “Yields” in Malaysia Prompting Investors to Return to Dubai

Yields on Malaysia’s sovereign Islamic bonds are trading at the narrowest premium to Treasuries since they were sold, giving investors incentives to buy higher- returning sukuk after Dubai World’s debt restructuring agreement.

It seems Islamic bond investors have short memories…Dubai World was the perpetrator of the world’s largest Sukuk swindle less than 2 years ago…

Dubai Sukuk ‘Massive’ Rally Ruled Out by Citi

Dubai’s Islamic bonds, after beating sukuk from Malaysia this quarter, may face limited gains because the restructuring of Dubai World’s $24.9 billion in debt requires asset sales over eight years.

Turkey Moves Closer to Middle East Through Shariah Finance

Interest in Shariah finance is on the rise in Turkey, bolstering its ties with the Middle East and paving the way for a new growth market for Islamic bonds.

“The emergence of sukuk in Turkey is a socio-political issue,” law firm Norton Rose senior debt capital markets attorney Rizwan Kanji said.

“Turkey is looking to align itself more to the Arab world than the West.”