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- Dubai Financial Market index shoots past 6000 mark in new 17-year high
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07/02/2018 05:53 AST
Birmingham-based Al Rayan Bank has mandated banks to raise £250mn ($352mn) via Islamic bonds, or sukuk, using a residential mortgage-backed securitisation, the Shariah-compliant lender has said.
Al Rayan has appointed Standard Chartered and itself to arrange investor meetings ahead of what would be its debut sukuk and one of the first such transactions in Britain.
The proposed sukuk from Al Rayan, owned by Qatar's Masraf Al Rayan, would help fund its ongoing efforts to expand into commercial real estate, private banking and financing for small- and medium-sized businesses. Rating agency Moody's has assigned a provisional Aaa rating to the sukuk, which would consist of a portfolio of first lien Home Purchase Plans secured by residential properties, with a current pool balance of approximately 300mn pounds.
The sukuk would securitise contracts known as diminishing Musharakah with Ijara finance, akin to reducing co-ownership arrangements, secured by residential properties located in England and Wales.
Al Rayan is among more than 20 firms in Britain that offer Shariah-compliant financial products, including lenders such as Gatehouse Bank and the Bank of London and the Middle East.
Britain also plans to issue a sovereign sukuk in 2019 after it first tapped the market in 2014.
Gulf Times
30/05/2025
AlRayan Bank rated A2 by Moody's with a stable outlook has successfully issued its $500m 5-year Senior Unsecured RegS Sukuk at a final Price of 5-year US Treasuries + 80 bps (Expected Profit rate of
The Peninsula
05/05/2025
AlRayan Bank has concluded its participation as the Diamond Sponsor of the 'Qatar CSR Summit 2025', which was held under the patronage of leading national institutions and attended by prominent figur
Gulf Times
22/03/2018
Qatar's first Shari'a-compliant exchange traded fund and arguably, the largest single-country Shari'a compliant ETF in the world was listed on Qatar Stock Exchange (QSE) yesterday. The Al Rayan Qatar
The Peninsula
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17/07/2025
In a strategic move that sets a regional benchmark, Oman Cables Industry (OCI), has secured Environmental Product Declarations (EPDs) for its key cable families reinforcing its position as a regional
Times of Oman
17/07/2025
Emirates NBD has concluded AED3.9 billion ($1.06 billion) Syndicated Bonding Facilities to a consortium created by MAPA, LIMAK and CRRC that will deliver the new Dubai Metro 'Blue Line' Project.
Trade Arabia
17/07/2025
Adnoc announced on Wednesday its intention to transfer its 24.9 per cent shareholding in OMV AG to XRG, its wholly-owned international investment company.
This transfer, which is subject to
Khaleej Times
16/07/2025
In line with its commitment to enabling strategic partnerships that support sustainable business growth, Sohar International has signed a consolidated loan agreement with Liva Group, a leading multi
Muscat Daily
16/07/2025
Reflecting its commitment to enriching the banking experience of its customers by providing exclusive offers and special rewards, National Bank of Kuwait announced the joining of Abyat, a leading com
Kuwait Times
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