The ICAEW Library & Information Service provides access to a range of content on Islamic finance and sukuk from various online sources, including a selection of articles from premium databases. Access to full text articles is provided for ICAEW members, ACA students and other entitled users subject to the conditions listed in the terms of use statement.
Displaying 1-20 of 32 results
Exclusive
Sukuk market faces barriers in global expansion
- 04 Dec 2023
- International Financial Law Review
The global sukuk market has experienced tremendous growth in the past few years, but interpretation and standardisation obstacles remain in establishing the Islamic finance product within the global financial market. Four lawyers discuss how the pace of sukuk growth has been troubled by high interest rates, as well as the lack of familiarity issuers have with Sharia-compliant standards.
Exclusive
Sukuk issuance reaches new heights but pace to slow
- 12 Jun 2023
- GlobalCapital
Huge demand from Islamic investors has propelled new sukuk issuance volumes to a record level - but the pace is likely to drop, as access to the sukuk market from outside the Islamic world is limited. One emerging market syndicate head in London said demand for sukuk bonds from Islamic banks has been "insatiable". High energy prices over the past twelve months mean banks in the Gulf (who are some of the main buyers of sukuk) are currently cash-rich and looking to spend.
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Global sukuk: New issuance highlights growth opportunities
- 01 May 2023
- Laurence Neville
- Euromoney
Notable transactions so far this year highlight the challenges and opportunities facing sukuk bonds, which includes growth in a sustainable ESG format and interest from an expanding universe of issuers, writes Laurence Neville. He also takes a look at the challenge of standardisation for sukuk frameworks and accounting and reporting standards, including the impact of the AAOIFI Sharia Standard 59.
Exclusive
Others may follow Air Lease Corp's rare sukuk
- 03 Apr 2023
- GlobalCapital
Air Lease Corp's $600m sukuk issue was the first North American corporate sukuk for 14 years. Its success has led bond issuers outside the Middle East and Asia to consider the merits of the Islamic finance market, according to bankers.
Exclusive
Understanding the rise of sukuk issuances
- 20 Feb 2023
- Nuriddin Lafizov
- International Financial Law Review
Nuriddin Lafizov, CEO at Alif Uzbekistan, explains the principles behind sukuk certificates and how they differ from conventional bonds. He also looks at the ongoing rise of sukuk and likely high-growth sukuk markets.
Exclusive
Saudi ambition helps Islamic bond market evade the global gloom
- 18 Aug 2022
- Selcuk Gokoluk, Netty Ismail
- Bloomberg
While doom and gloom grip emerging debt markets amid fears of recession and defaults, Saudi Arabia's sukuk deals are booming. The kingdom's domestic-market sales of sukuk bonds has hit $14.4 billion, up 185% from last year, according to data compiled by Bloomberg.
Exclusive
Uptick in sukuk issuances as global recovery gains traction
- 20 Mar 2022
- Issac John
- Khaleej Times
Global sukuk issuances, which surged 39% to $250 billion in 2021, are predicted to continue to grow in 2022 as economies recover from the coronavirus pandemic. Investor appetite, a diversification in funding goals and Islamic finance development agendas are expected to drive the growth in issuances.
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Higher oil prices lead to drop in GCC sukuk issuance in first half
- 07 Sep 2021
- Issac John
- Khaleej Times
Higher oil prices have reduced sovereign funding needs for Gulf Cooperation Council (GCC) countries in H1 2021, leading to stalling global sukuk issuance this year, Moody's Investors Service have reported. However, Moody's expects the sukuk market to maintain its long-term growth trend, helped by continued economic recovery and strong investor demand.
Exclusive
Global sukuks set to stage strong recovery this year
- 05 Jul 2021
- Muzaffar Rizvi
- Khaleej Times
Sukuk bonds are expected to show strong worldwide recovery in autumn/winter 2021 due to favourable market conditions, a new S&P Global Ratings report predicts. The rating agency expects low interest rates and abundant liquidity - combined with stabilised oil prices and continuing vaccinations in most Islamic finance countries - will create supportive conditions for sukuk issuance.
Exclusive
UK prints second sukuk for £500m, flat to gilts
- 01 Apr 2021
- Mariam Meskin
- GlobalCapital
The UK issued its second ever sovereign sukuk in April 2021, raising more than double the amount from its first sukuk in 2014. The deal will be underpinned by rental income from central government offices. The UK's debut sukuk bond in 2014 made it the first western country to issue a Shariah-compliant bond.
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Record low interest rates and liquidity to propel sukuk issuances to $155b in 2021
- 12 Jan 2021
- John Issac
- Khaleej Times
An upturn in economic conditions in the Gulf Cooperation Council (GCC) countries, Malaysia and Indonesia will spur global sukuk market buoyancy in 2021, S&P Global Ratings has predicted. An increase in sukuk issuance by corporates and sovereigns in the core Islamic finance countries is expected.
Exclusive
Sukuk issuance shrinks despite market efforts to diversify into sustainability
- 26 Oct 2020
- Mariam Meskin
- GlobalCapital
The volume of sukuk bond issues is set to decline in 2020, despite the market's best attempts to diversify and become more sustainability-focused. The coronavirus pandemic negatively impacted the markets where Islamic finance is most active – Asia and the Middle East.
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Islamic Finance United States report 2020
- 01 Apr 2020
- Camille Paldi
- Journal of Islamic Banking and Finance
An overview of the US Islamic finance sector, as of 2020. Although still a niche segment of the US finance sector, Islamic financial institutions have managed to create a strong presence in the areas of home financing, asset management and investing. Some have dabbled in the areas of Takaful insurance and Sukuk bonds.
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Islamic capital markets: An ever-expanding frontier
- 30 Sep 2019
- IFLR correspondent
- International Financial Law Review
A rundown of typical Islamic financial products, focusing on the types of sukuk bonds available. Asset-based, fixed, floating rate, project-based and equity-linked sukuk issuances are covered.
Exclusive
UK readies next Shariah-compliant outing
- 15 Jul 2019
- Morgan Davis
- GlobalCapital
The UK is preparing to issue its second sovereign sukuk. Philip Hammond announced the sukuk in a July 2019 speech to financial services industry members.
Exclusive
Islamic finance's Fintech leap
- 01 Jun 2019
- Gilly Wright
- Global Finance
Islamic banks are developing digital innovations and workarounds for their Shariah-compliant banking services. Several Islamic banks are currently using or testing blockchain to assist with payments and remittances, as well as for trade finance purposes such as blockchain Islamic sukuks.
Exclusive
Indonesia returns to green notes with sukuk
- 04 Mar 2019
- Morgan Davis
- GlobalCapital
The Republic of Indonesia has issued a new sukuk bond with a green tranche. The green sukuk will allow Indonesia to appeal to a niche set of investors, in an effort to raise $2bn. In 2018 Indonesia became the first Asian sovereign to sell a green sukuk bond.
Exclusive
World's first sovereign green sukuk
- 19 Mar 2018
- Karry Lai
- International Financial Law Review
Indonesia’s landmark sovereign bond is the first in the world to be structured as a green sukuk bond. Its February 2018 issuance marks the first time the ASEAN national green bond framework has been used since being introduced in November 2017.
Exclusive
First RMBS sukuk sees institutional investor interest
- 26 Feb 2018
- Olly Jackson
- International Financial Law Review
The UK-based Al-Rayan Bank has issued a £250 million ($347 million) sukuk bond using a residential mortgage-backed securitisation (RMBS). The bond is backed by a portfolio of home purchase plans from clients in England and Wales, at a time when RMBS deals are making a comeback in the market.
Exclusive
Dana Gas $700mln sukuk holders say they expect full repayment after court ruling
- 15 Feb 2018
- Davide Barbuscia, David Holmes, Andrew Torchia
- Zawya
A London High Court judge has again ruled in favour of holders of $700 million of Sukuk Islamic bonds issued by Dana Gas. A committee representing the holders has issued a statement confirming that they expect to recover all the money owed under the bonds' original documentation.
Displaying 1-20 of 32 results
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