Arab Today, arab today dib lures with sukuk to avert moody’s cut
Last Updated : GMT 03:55:26
Arab Today, arab today
Arab Today, arab today

DIB lures with sukuk to avert Moody’s cut

Arab Today, arab today

Arab Today, arab today DIB lures with sukuk to avert Moody’s cut

Abu Dhabi - Arabstoday

Dubai Islamic Bank (DIB) may pay more than twice the Arabian Gulf average on Sharia-compliant debt for its first perpetual sukuk as the lender seeks to avert a downgrade by Moody\'s Investors Service. The United Arab Emirates\' biggest Islamic lender will probably pay between 6.5 per cent and 7.14 per cent for the sukuk to boost Tier 1 capital, the core resources needed to cushion against losses, according to three analysts surveyed by Bloomberg. This compares with a 2.65 per cent average yield on Islamic bonds issued by financial institutions in the Gulf Cooperation Council (GCC), according to HSBC/Nasdaq Dubai indexes. The yield on Abu Dhabi Islamic Bank (ADIB) hybrid perpetual sukuk sold in November is 6.28 per cent, data compiled by Bloomberg show. Moody\'s placed Dubai Islamic on ratings watch for a possible cut in December because loan quality \"remains very weak compared to peers\" and the bank hasn\'t set aside enough money to cover losses. The world\'s oldest lender complying with Muslim banking rules is seeking to absorb bad loans stemming from a property crash that sent Dubai home prices tumbling more than 65 per cent. Tier-1 sukuk can be treated as equity and thus used to bolster capital. \"With a yield of seven per cent or more, DIB Tier 1 sukuk will be very attractive to the investors seeking high yields as no other names in the sukuk market offer higher yield except for riskier names such as Nakheel or Dana Gas,\" Montasser Khelifi, a Dubai-based senior analyst at Quantum Investment Bank, said by e-mail on March 7. time of oman

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dib lures with sukuk to avert moody’s cut Arab Today, arab today dib lures with sukuk to avert moody’s cut

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dib lures with sukuk to avert moody’s cut Arab Today, arab today dib lures with sukuk to avert moody’s cut

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday