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Dubai Islamic Bank to Revive USD 750 Million Sukuk Deal Postponed Due to Market Conditions

Dubai Islamic Bank to Revive USD 750 Million Sukuk Deal Postponed Due to Market Conditions

Dubai Islamic Bank (DIB) has reignited its plans to issue a USD-denominated Sukuk worth USD 750 million, according to industry sources. DIB had postponed the issuance of this Sukuk during volatil...

IM Insights | June 05, 2020

Cypark Resources to Issue MYR 500 Million Sukuk Musharakah to Support Renewable Energy Projects

Cypark Resources to Issue MYR 500 Million Sukuk Musharakah to Support Renewable Energy Projects

Cypark Resources (CR) is seeking to issue a perpetual medium-term Islamic note programme (Sukuk Musharakah) of up to MYR 500 million, to raise fresh funds for its renewab...

IM Insights | June 05, 2020

Garuda Sukuk Holders Approve the Proposal to Extend the Tenure of USD 500 Million Sukuk

Garuda Sukuk Holders Approve the Proposal to Extend the Tenure of USD 500 Million Sukuk

Indonesia’s national airline, Garuda Indonesia (Garuda) has received approval from majority of its Sukuk holders to extend the tenure of its USD 500 million Sukuk by three years, ...

IM Insights | June 05, 2020

World Bank Predicts Indonesia’s Economy to Shrink 3.5% if Social Restrictions Extend for 4 Months

World Bank Predicts Indonesia’s Economy to Shrink 3.5% if Social Restrictions Extend for 4 Months

With the Government of Indonesia planning to re-open its economy, the World Bank (WB) has predicted the Indonesian economy to shrink by 3.5% in a worst-case scenario, if the nationwide large scale soc...

IM Insights | June 05, 2020

COVID-19: Fitch Downgrades Issuer Default Ratings of 20% of ASEAN Banks in Its Portfolio

COVID-19: Fitch Downgrades Issuer Default Ratings of 20% of ASEAN Banks in Its Portfolio

Fitch Ratings (Fitch) has lowered 20% of Asean Bank's issuer default ratings (IDRs) under its portfolio since March 2020, following a substantial increase in risks amongst financial institutions...

IM Insights | June 05, 2020

Indonesia Launches New IDR 677.2 Trillion Stimulus to Stabilize COVID-19-Battered Economy

Indonesia Launches New IDR 677.2 Trillion Stimulus to Stabilize COVID-19-Battered Economy

The Government of Indonesia on the 4th of June 2020, announced a new stimulus package worth IDR 677.2 trillion (USD 47.6 billion) to stabilize the virus-battered economy, aiming at improving the healt...

IM Insights | June 05, 2020

MARC Forecasts Malaysia’s Economy to Contract in 2020 with a Rebound Expected in 2021

MARC Forecasts Malaysia’s Economy to Contract in 2020 with a Rebound Expected in 2021

Malaysian Rating Corporation (MARC) has released its expectations on Malaysia’s economic performance anticipating a contraction in the Gross Domestic Product (GDP) by 1.5-3.0% for 2020, wit...

IM Insights | June 05, 2020

IIF Predicts GCC Countries to Face the Toughest Economic Crisis Ever in Their History

IIF Predicts GCC Countries to Face the Toughest Economic Crisis Ever in Their History

The Institute of International Finance (IIF), a Washington based global financial industry body, has stated that the six Gulf Cooperation Council (GCC) countries are experiencing the toughest eco...

IM Insights | June 04, 2020

ITFC Approves EUR 8 Million Murabahah Financing for Senegal’s COVID-19 Recovery

ITFC Approves EUR 8 Million Murabahah Financing for Senegal’s COVID-19 Recovery

The International Islamic Trade Finance Corporation (ITFC) has agreed to provide Murabahah Financing of EUR 8 million to Banque Islamique du Sénégal (BIS),...

IM Insights | June 04, 2020

MARC Assigns Final Rating of AA-IS to Pelabuhan Tanjung Pelepas' MYR 1.9 Billion Sukuk

MARC Assigns Final Rating of AA-IS to Pelabuhan Tanjung Pelepas' MYR 1.9 Billion Sukuk

Malaysian Rating Corporation (MARC) has assigned a final rating of AA-IS with a Stable Outlook for the proposed MYR 1.9 billion Sukuk Murabahah program of Malaysian port operator, Pelabuhan&...

IM Insights | June 04, 2020