Saudi Mortgage Refinancing Company gets sovereign guarantees for Sukuk

KSA Sukuk Limited, a special purpose vehicle incorporated in the Cayman Islands and wholly owned by the Government of Saudi Arabia.The Ministry of Finance received significant interest for the first international issuance of the Sukuk programme with an orderbook from investors in excess of U.S.$ 33 billion (equivalent to SAR 123.75 billion).

Saudi Arabia’s Ministry of Finance is likely to return to the domestic Sukuk market this year as Moody’s state the issuance is credit positive for Islamic Banks. The Ministry of Finance raised sar17 billion ($4.5 billion) in its first domestic sukuk issuance this week under a newly established local currency government sukuk program.

QATAR: Qatar Central Bank places five and 10-year Sukuk papers. MALAYSIA: Sunway Treasury Sukuk issues RM200 million (US$48.26 million) Islamic commercial paper . SAUDI ARABIA: Al-Ahlia Insurance Company gets nod from Capital Market Authority to decrease capital to SAR123 million (US$32.79 million)

Saudi Real Estate Refinance Co., a unit of the kingdom’s sovereign wealth fund, set up an 11 billion-riyal ($2.93 billion) Islamic bond program to increase liquidity in the country’s mortgage market. hsbc saudi arabia has been appointed as the sole arranger and bookrunner for the riyal-denominated program, the company said in a statement.

Furthermore, in the same month China offered export guarantee facilities worth up to 32bn to encourage. announced plans in January to expand its South African operations. The company said that it.

Saudi Real estate refinance company, a fully owned subsidiary of Saudi Arabia’s sovereign wealth fund, set up an 11 billion-riyal (Dh10.8bn) sukuk programme aimed at increasing liquidity in the.

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Read: Saudi plans to deliver one million housing units over next five years sovereign fund the Public Investment Fund established a national mortgage refinancing company in October in an attempt.

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Riyadh, KSA: Saudi Real Estate Refinance Company (SRC) announced that the Ministry of Finance of Saudi Arabia will provide guarantee for SRC’s future Sukuk issuances. The credit support agreement was signed between His Excellency Mohammed Al-Jadaan, Minister of Finance and His Excellency Majid Al.