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THIS WEEK'S ISSUE 26th NOVEMBER
Volume 11 Issue 47
Cover Story : Coco bonds: Chance or challenge?
Editor's Note : A risky business
Rapids
Features
  Outlook on Japan and Islamic finance
  Liquidity management in Islamic finance:
     Opportunities and challenges

  Liquidity and secondary markets
  The second wave of Islamic finance in Japan
IFN Reports
  IFN Weekly Poll: Inching closer to its proposed issue
     date and after a postponement in September,
     will Pakistan meet its target to raise US$1 billion
     in Sukuk before December 2014?

  IFN Eurekahedge round up: Variance in annualized
     standard deviation

  The missing link: Could Islamic repos finally become
     a reality?

  Company Focus: CastleHill Capital Partners
  New player on the Takaful scene
  IFN Global Trendswatch
  Sovereign Sukuk: Busy markets
  Indonesia’s five-year roadmap to accelerate
     its Islamic industry

  Sukuk pipeline starts flowing as the end of the year
     approaches

  Stable in the charts: Amana Growth Fund
  Turkey’s maiden 10-year Sukuk paves way for
     longer-term sovereign Islamic debt

  Increased growth rates for UAE banks in the first
     nine months of 2014

  State Bank of India to launch Shariah compliant
     mutual fund

  UK’s largest private rented residential portfolios
     with a Shariah compliant touch

Special Reports:
  Sukuk milestones continue
  Three-sale contracts
Case Study : Biggest IPO in the Arab world: National Commercial Bank
   Closing Bell     Takaful News     Deal Tracker     Funds Data  
   News     Moves     Events Diary     League Tables  
   Islamic Investor News     Ratings     REDmoney Indexes     Index  
Cover Story

Coco bonds: Chance or challenge?


Editor's Note

A risky business



IFN Reports

IFN Weekly Poll: Inching closer to its proposed issue date and after a postponement in September, will Pakistan meet its target to raise US$1 billion in Sukuk before December 2014?


Islamic Development Bank

Issuers are rushing to close their deals before the end of the year, one of the most prominent of which should be the highly anticipated sovereign issuance from the Pakistani government. After several postponements, roadshows are due to launch today with the deal expected to close on Wednesday, according to the latest announcement from finance minister Ishaq Dar... more…

IFN Eurekahedge round up: Variance in annualized standard deviation

November’s update on the annualized returns and annualized standard deviation for all funds on the Eurekahedge Islamic Fund Index includes some variances in results between this month and the top 10 results in these categories for October, with funds from India making a strong showing in the data collated for this week. REBECCA SIMMONDS reports.

The missing link: Could Islamic repos finally become a reality?

Company Focus: CastleHill Capital Partners

New player on the Takaful scene

IFN Global Trendswatch

Sovereign Sukuk: Busy markets

Indonesia’s five-year roadmap to accelerate its Islamic industry

Sukuk pipeline starts flowing as the end of the year approaches

Stable in the charts: Amana Growth Fund

Turkey’s maiden 10-year Sukuk paves way for longer-term sovereign Islamic debt

Increased growth rates for UAE banks in the first nine months of 2014

State Bank of India to launch Shariah compliant mutual fund

UK’s largest private rented residential portfolios with a Shariah compliant touch



IFN Country Analysis

Islamic finance in South Africa: Sukuk takes the stage


IFN Sector Analysis

Technology: A stepping stone to get ahead


Shariah Pronouncement

An Islamic bank has been using an Istisnah and parallel Istisnah structure to finance the construction of residential as well as commercial buildings


IFN Country Correspondents

IBA and IDB – spearheading Islamic finance in Azerbaijan

Bank Asya to vote on capital increase

NSE listing of Shariah compliant fund to boost Islamic finance industry in Nigeria

Winding up of First Habib Bank Modaraba

Islamic finance in Malta may be given a boost


Special Reports

Sukuk milestones continue

Three-sale contracts


Case Study

Biggest IPO in the Arab world: National Commercial Bank


Features

The second wave of Islamic finance in Japan

Outlook on Japan and Islamic finance

Liquidity management in Islamic finance: Opportunities and challenges

Liquidity and secondary markets

Deals of the Year

IFN Weekly Poll

With investment prospects valued at US$173 million, will Egypt re-emerge as a prominent Islamic finance player in 2015?
Yes
No

If there are specific questions or issues that you’d like to feature, feel free to send your queries to news@redmoneygroup.com or nabilah.annuar@redmoneygroup.com

Trade Finance
Tuesday,
25th November 2014

State Bank of India to launch Shariah compliant mutual fund in December

Public Mutual to launch two Islamic funds

Central Bank of Bahrain Sukuk issuance oversubscribed by 302% 

Turkiye Finans gains regulatory approval for TRY71 million (US$31.88 million) Sukuk

Egyptian government considering use of Zakat to cover budget deficit according to fund board member

Bank Asya approves capital increase to TRY1.125 billion (US$505.8 million)

IDB allocates EUR200 million to wastewater developments works in Iran

Meezan Bank anticipates extra profit of PKR500 million (US$4.86 million) from HSBC acquisition

Fitch assigns rating of ‘AA’ to ICD despite high credit risk

ITFC signs US$300 million Murabahah agreement with Tunisian Refining Industries Company
Monday,
24th November 2014

Central Bank of the UAE highlights increase in growth rates for the country’s banks over the first nine months of 2014

Sultanate to issue Sukuk next year depending on the need of the government

AmInvest to merge AmInvestment Services and AmInvestment Management

Eethiq Advisors confirmed as lead partner for IFN Europe Forum 2015

RAM reaffirms ratings of Hong Leong Islamic Bank and its Sukuk program at ‘Stable’

The IDB and the Bank of Khartoum allocates US$450,000 for graduates and SMEs

SPI Insurance Company receives SECP approval to commence Takaful operations

Barwa Bank records 43% increase in net profits for third quarter of 2014

Pakistan to begin Sukuk roadshow today in the UAE

Fitch affirms Ras Al Khaimah at ‘A’ with a stable outlook

RAM assigns AAA/P1 preliminary ratings of assigns ‘AAA/P1’ to Suria KLCC's proposed Sukuk Murabahah
Friday,
21st November 2014

Sukuk pipeline starts flowing as the end of 2014 approaches

KPJ Healthcare subsidiary, Point Zone to issue US$445.6 million in Sukuk

Amana Takaful records profit of LKR24.8 million (US$188,998) in the third quarter

Arab Orient Takaful Insurance records investment revenues of EGP3.97 million (US$553,691) at the end of September

RHB Capital third quarter profits decline to US$161.78 million on higher bad loan allowance

Saudi Kayan Petrochemical Company signs two Murabahah financing deals totaling US$700.82 million

MARC assigns stable outlook to Northport’s ICP and IMTN programs

RAM reaffirms ‘AA1/stable’ rating of Ranhill Powertron’s IMTN program

IDB discusses cooperation with Federation of GCC Chambers

CIMB Islamic, Danajamin Nasional and RHB Islamic provide RM420 million (US$125.35 million) in syndicated financing for Malaysian Resources Corp

Otoritas Jasa Keuangan revises Islamic banking rules
Thursday,
20th November 2014

Gatehouse and Sigma form joint venture to develop one of UK's largest private rented residential portfolios

Emirates REIT announces net asset value increase

Dubai Aviation Corp launches five-year US$500 million debut Sukuk, narrows price guidance

Port operator Northport to issue RM1.5 billion (US$447.67 million) Sukuk according to MARC

GFH concludes capital reduction plan, reduces accumulated losses by US$134.4 million

Investment Dar to make new legal bid for stake in Boubyan Bank

Introduction of Islamic finance regulation in Iraq could boost the industry to 6% of total banking assets within three years according to experts

AAOIFI to revise four standards in the new year, including expansion of coverage regarding Sukuk

Noor Bank offers scholarships to UAE students to boost talent within the Islamic banking sector

Air Arabia secures US$230 million Ijarah financing facility to fund delivery of six Airbus A320 aircraft

RAM reaffirms enhanced ‘AA1(s)/Stable’ rating for RM150 million (US$44.76 million) debt securities issued by Pendidikan Industri YS

Emirates REIT names new appointments to Oversight and Advisory Boards

Shariah compliant fund in India posts annualized returns of 18% at the end of five year tenure
Wednesday,
19th November 2014

Turkey’s maiden 10-year Sukuk paves way for longer-term sovereign Islamic debts

CastleHill Capital unveils plans to launch Shariah compliant UK student accommodation fund in 2015

Malaysia Building Society plans second issuance under RM3 billion structured covered Sukuk commodity Murabahah program

Pricing for Dubai Aviation Corp Sukuk expected today, initial guidance set at 225bps over midswaps

Kuveyt Turk mandates three banks for debut Malaysian Sukuk worth RM2 billion (US$596.90 million)

Price guidance for US$600 million Sukuk from Mumtalakat narrows due to offers of more than US$2.5 billion from investors

Advanced Petrochemical Co completes debut SAR1 billion (US$266.43 million) Sukuk

Hilal Sukuk Company US$1 billion Sukuk delisted from NASDAQ Dubai following full and complete redemption

IILM to auction three-month US$590 million Sukuk on the 25th November

Finalized structure for Islamic mega bank expected as soon as the first quarter of 2015 according to CIMB

Abraaj Investment Management gets regulator nod for acquisition of Bisco Misr

Arcapita completes US$100 million fundraising, plans further investments in the Gulf and international markets

Al-Rajhi Bank and Mobily agree communications and IT services deal

Turkish asset management platform AZ Global rebrands as Azimut Global

Better opportunities for Islamic finance training required for the development of the industry, according to IRTI director general

Jadwa Investments considering real estate as part of its strategy towards new asset classes

Great Eastern Takaful and Bank Muamalat sign bancaTakaful distribution agreement
Tuesday,
18th November 2014

UK firm secures Shariah compliant offshore real estate financing deal as part of Islamic investment strategy

Mumtalakat to price Sukuk today according to reports

Profit payment due for LBS Bina Group’s RM135 million (US$40.34 million) Sukuk on the 1st December

Ten-year Turkish Sukuk expected to price today

Bank Asya to vote on capital increase on the 22nd November

Bank Islam Malaysia deems co-branded debit card campaign a success

EIIB-Rasmala confirms full acquisition of Rasmala Egypt Asset Management in line with strategic initiatives for 2015

Dow Jones Sukuk Index indicates higher total outstanding for 2014 in year-on-year figures

AAOIFI to incorporate view from conventional accounting standards board at annual conference

Saudi market to open to foreign investors in the first quarter of 2015

Islamic finance to be launched through IBA-Moscow on the 1st December 2014
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