Friday night bullets

• A London-based healthcare organization may be the first corporate issuer of a sukuk, according to reports. The sukuk is expected to be GBP50 million ($76 million).
  
• Nakheel has asked for information on the identities of 2010 sukuk and bond holders, which may be an indication that they may want to restructure those obligations.
  
• The Saudi mortgage finance law is expected to increase the demand for Islamic banking services although there are concerns about the diminished liquidity if banks add illiquid Islamic mortgages to their balance sheets.
  
• Gulf Finance House continues to work through its debt deal and is close to a deal of another $100 million in debt coming due soon.
  
• The IIFM, now with a new website, released a sukuk report, which looks to focus on case studies, although I have not yet read it.
  
• The Philippines is considering its first sukuk issuance for about $500 million.
  
• Sukuk issuance is expected to be $31 billion globally, with $10-15 billion coming from the Middle East according to Bank of America Merrill Lynch. Deutsche Bank sees sukuk issuance being 'weaker' in 2010.
  
• Standard Chartered's Malaysian Islamic banking subsidiary Saadiq is planning on offering new products targeted at small-and-mid-sized businesses. Standard Chartered will also begin offering Shari'ah-compliant hedging contracts.
  
• Arcapita is cutting workers to control costs.
  
• HSBC named William Ross as a co-head of Islamic finance at the bank. HSBC's chairman Stephen Green says that London can expand its financial business by offering more Islamic banking products.