A survey of the most significant sukuk (Islamic bond) issuances of 2013 reveals that a diverse array of institutions have turned to the instrument in order to acquire capital. The first of the major deals came in March with the Saudi Electricity Global Sukuk II, a US-dollar-denominated offering worth $2bn. In May three issuances were...
Long a key participant in the global Islamic finance arena, Saudi Arabia secured its position in 2013 by becoming the largest issuer of sukuks (Islamic bonds) in the region for the second year in a row. With a banking industry in which sharia-compliant assets account for a growing share each year, and an insurance sector that has...
The size and buoyancy of Saudi Arabia’s hydrocarbons-driven economy mean that the country has long been of interest to foreign investors. As the most obvious point of entry for investors, the Saudi Stock Exchange has therefore been the focus of mounting interest into the possible opening of the economy to investment from non-residents....
THE COMPANY: Established in 1956, Abdullah Al Othaim Markets Company (Othaim) claims to be the second-largest food retailer in Saudi Arabia, with about 3.8% market share at the end of 2013. The company operates 121 locations including hypermarkets (7), supermarkets (80), wholesale stores (9) and...
COMPANY: Established in 1957 and headquartered in Riyadh, Riyad Bank operates through a network of 252 national branches and services its retail, corporate and institutional customers with a range of conventional and Islamic banking products. In addition, the bank provides insurance services through...
THE COMPANY: Saudi Basic Industries Corporation (SABIC) is Saudi Arabia’s largest publicly listed non-oil company. It was established in 1976 by royal decree to utilise the vast reserves of hydrocarbons in the country, especially natural gas, which until then had simply been flared off. SABIC is 70...
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