Monday, April 30, 2007

Sukuk issues appeal to non-Muslims; KFH interested in RHB

Sukuk issues appeal to non-muslim investors

The Financial Times provides a good overview of the market for sukuk their appeal to non-Muslim investors, as well as the risks which need to be addressed. The article provides short descriptions of a few specific sukuk including Nakheel Group's $3.52 billion issue and an issue by Boyner Holding (a Turkish retailer)

KFH still interested in RHB

Kuwait Finance House, the Kuwaiti-based Islamic bank which operates in Malaysia, is reported to be in talks to acquire a 49% stake in RHB, for which it launched a failed bid earlier this year.

Other News

The Islamic Development Bank (IDB) will launch the International Islamic Trade Finance Corporation (ITFC).

Qatar Islamic Bank plans to explore opening a $1 billion mega Islamic bank in Sudan.

Barclay's Capital has a 23% market share in Islamic bond underwriting.

Malaysian-based International Centre for Education in Islamic Finance (INCEIF) plans to expand into Europe and the Middle East.

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