According to Reuters, Saudi National Bank, the kingdom’s largest lender that is 50.4 percent indirectly owned by the government, sold $750 million in its debut “sustainable” sukuk last week after demand surpassed $3.2 billion. The five-year Islamic bonds were sold out. Bankers predict that the Gulf will
Fitch Ratings-Dubai/London- The economic volatility caused by COVID-19 highlights the need for an effective bankruptcy resolution system in most Islamic finance markets, Fitch Ratings says. This includes the need for better protection for sukuk and bond holders’ rights. Providing remedies, and making recovery prospects more predictable is also needed.
DIFC – Dubai, August 11, 2020 — * Full-year sovereign sukuk issuance expected to rise by more than 40% to $92 billion * Sukuk market’s growth prospects remain strong as Islamic finance expands A recovery in market conditions and an increase in the gross borrowing requirements of the world’s largest sukuk sovereign
BEWG (M) Sdn Bhd (BEWGM), the Malaysian arm of China state-owned enterprise Beijing Enterprises Water Group Ltd (BEWG), will be proposing solutions for water resources to the Johor State Executive Council and if accepted, it will invest some RM2 billion to implement the water and sewage treatment services. “BEWGM, together