Business Blog

Jeddah-based Islamic investment firm Sedco Capital has launched the first fund managed by its own in-house team, looking to bulk up its asset management capabilities, the firm said.

Luxembourg has set initial price thoughts for its 200 million euro ($254 million), five-year debut sukuk issue at the flat to negative 2 basis points area versus midswaps, a document from lead managers showed.

The board of directors of Central Bank of Oman (CBO) yesterday decided to select five members to represent the apex bank at the high-powered seven-member Sharia Supervisory Authority and approved to nominate a secretary for the authority.

Shareholders of Dubai's Amlak Finance met for the first time in more than six years on Sunday and backed a key component of the mortgage provider's $2.7 billion debt restructuring deal.

Abdullah A. M. Al-Khodari Sons Company renewed existing Islamic credit facilities with SAMBA Financial Group amounting to SAR 425 million.

Malaysian construction firm WCT Holdings Bhd will raise up to 1.5 billion ringgit (USD 460.05 million) through Islamic bonds to refinance debt, pay working capital and capital expenses, according to a statement on Friday by rating agency Malaysian Rating Corp Bhd (MARC).