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Tag Archives: Finance

SIB plans US dollar sukuk

Sharjah Islamic Bank (SIB) is arranging meetings with fixed income investors this week in advance of a planned U.S. dollar benchmark sukuk, a term normally used to describe an Islamic bond issue of value greater than US$500 million (AED 1.8b). Meanwhile, Moody’s Investors Service has assigned a provisional (P)A3 senior unsecured (foreign and local currency) MTN rating with Stable Outlook to the ...

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Sharjah Islamic Bank first institution to join Murabaha – NASDAQ Dubai’s Islamic financing platform

Sharjah Islamic Bank (SIB) announced this week that it has joined NASDAQ Dubai’s new Islamic financing platform, Murabaha, which offers an alternative for Islamic financing transactions using Sharia-compliant Certificates. SIB is the first bank to join the Murabaha platform, which was set-up by NASDAQ Dubai in partnership with Emirates Islamic Bank (EIB) and Emirates Islamic Financial Brokerage (EIFB). Originally founded ...

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Fitch upgrades Sharjah Islamic Bank rating

Global credit rating agency Fitch has upgraded Sharjah Islamic Bank’s (SIB) Viability Rating. The new rating was announced as part of the first Fitch Ratings peer review of the UAE banking sector. The report affirmed the Long-term and Short-term Issuer Default Ratings (IDR) of nine UAE banks, plus the Viability Ratings (VR) of eight other banks. Sharjah Islamic Bank’s VR ...

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