Business Blog

The South African government plans to raise at least USD500 million in its first issue of Islamic bonds, a Treasury official indicated on Thursday.

Turkish conglomerate Dogus Group has received regulatory approval to raise USD 370 million by issuing the country's first corporate sukuk, the Capital Markets Board said.

LONDON, Aug 28 (IFR) - The Republic of South Africa will begin marketing its debut sukuk from Sept. 8.The roadshow will begin in London, before heading to Dubai and Abu Dhabi on Sept. 9, Riyadh on Sept. 10 and Qatar on the following day.The roadshow will wrap up on Sept. 12, though the destination is still being decided, according to a lead. A 144A/Reg S dollar sukuk transaction may follow.BNP Par

Bahrain's Gulf Finance House (GFH) said that it had signed to obtain a $105 million, five-year Islamic credit facility from Kuwait Finance House.

National Bank of Egypt (NBE), Banque Misr, Commercial Bank of Egypt (CIB), Arab African International Bank (AAIB) , QNB Al Ahli and Faisal Islamic bank agreed to allocate EGP1 billion from South Helwan Power Plant's loan.

Managing Director of Egyptian Takaful Company (Life) GIG Hisham Abdel Shakour revealed that the company plans activating marketing its products through Audi and Abu Dhabi Islamic banks by October.