- Nomura's $100 million sukuk will mature in 2012 and will be priced at 160 basis points over LIBOR. It is an ijara sukuk.
- An article describes HSBC's work in the sukuk markets, including its work on the $1.9 billion Saudi Electric Company sukuk.
- Kuwait Finance House wants to arrange more sukuk in the GCC and Malaysia.
- AmIslamic Bank Bhd received approval from the Securities Commission in Malaysia for a RM3 billion ($932 million) sukuk program. The sukuk will be senior musharaka sukuk with tenors of up to 30 years.
- The Indonesian sukuk to be issued in October will be "approximately similar to that of last year". Last year's Indonesian sovereign sukuk was $650 million.
- Few other details were provided by Pakistan's government about its proposed sale of short-term (less than one year) sukuk which it will sell in the GCC.
Gulf Finance House is in talks to extend $100 million in debts for three years because the markets are not good enough for asset sales. The asset sales are part of a restructuring following a crisis at the bank (described in an article by Mohammed Khnifer, Aatef Baig and Frank Winkler). The GFH situation is indicative (although an extreme example) of the effects of the financial crisis on Islamic finance. Bloomberg reports that Islamic syndicated loans fell 40% to $2.2 billion in the first half of 2010, a 5-year low.
Citi plans to offer more Islamic equity products where returns are based on the performance of the equities under certain conditions and where they receive the stock if the price falls. Citi says it wants to offer mudaraba-based products, but there has been little interest.
A study by Mareyah Mohammed Ahmad, a recent graduate of the British Univerity in Dubai, found that Islamic banks had