BANKING - Germany could get first Islamic bank

www.thenational.ae - BERLIN // Bank Kuveyt Türk, based in Instanbul, plans to set up the first Islamic bank in Germany next year to tap into a potential market of more than four million Muslims.

An official at the German branch of Kuveyt Türk, majority-owned by Kuwait Finance House, said on Monday the bank was preparing its application for official approval. (source)

CAPITAL MARKETS - Turkey to mandate banks for sovereign sukuk sale - sources - Turkiye Finans plans corporate sukuk

www.reuters.com - ISTANBUL, July 5 (Reuters) - Turkey is set to mandate HSBC, Citi and Deutsche Bank to manage the sale of its first sukuk, or Islamic bond, banking sources told Reuters on Thursday.
The move by the Treasury, overcoming sensitivities about Islamic finance in the secular republic, should give Turkey access to a wider pool of investors via a global sukuk market estimated at more than $100 billion.
One banker said a size of $1 billion was being targeted, but that the sale amount was still unclear.
"The Treasury is about to finalise meetings about its first sukuk issue, and their choice (for the mandate) will be HSBC, Citi and Deutsche," said one senior banking source in London.
A sovereign sukuk from an economy regarded as one of the Muslim world's most progressive and successful would signal intent on Turkey's part to play a bigger role in Islamic finance.  (source)

CAPITAL MARKETS - Turkey's Albaraka postpones sukuk issue

ISTANBUL: The Turkish unit of Bahrain's Albaraka Banking Group said it had postponed a planned issue of Islamic bonds, saying the yields investors expected were too high.

"Because of the negative environment in international markets the yields international investors are seeking are not matching with our expectation," the lender said, adding that demand was very good.  (source)

CAPITAL MARKETS - Albaraka Turk hopes to raise $200m in sukuk-CEO

Dec 11 (Reuters) - The Turkish unit of Bahrain's Albaraka Banking Group hopes to raise $200 million in an Islamic bond by the end of this week and is seeing interest from Asian and Arab Gulf investors, the group's chief executive said on Sunday.

"We're in the market for this sukuk and hope to raise $200 million by the end of this week," Adnan Yousif told Reuters.

"Pricing for the sukuk is very reasonable. It's in the 6 percent range," Yousif added.  (source)

CAPITAL MARKETS - Islamic Bond Alert

ALBARAKA TURK KATILIM BANKASI AS (ALBRK): The Turkish Islamic bank owned by Bahrain-based Albaraka Banking Group BSC hired Deutsche Bank AG, Emirates NBD, QInvest Llc and Noor Islamic Bank to manage a sale of as much as $200 million of five-year Islamic bonds, it said in a statement to the Istanbul Stock Exchange on Oct. 21. 

ASYA KATILIM BANKASI AS (ASYAB): The Turkish Islamic bank will offer as much as $300 million of five-year sukuk. Bank Asya, as the lender is known, hired Citigroup Inc. and UBS AG for the sale and has started talks with investors, the bank said in a filing with the Istanbul Stock Exchange.(source)

BANKING - Albaraka Turk names banks for sukuk roadshow

Nov 21 (Reuters) - Albaraka Banking Group's Turkish unit Albaraka Türk Katlm Bankas has mandated four banks on a series of investor meetings and may issue an Islamic bond as early as next month, a banker familiar with the matter said on Monday.

"Albaraka Turk mandated Deutsche Bank, Emirates NBD, Noor Islamic Bank and QInvest to arrange fixed income meetings in Asia, Europe and the Middle East starting Nov 26," the banker, who asked not to be named, told Reuters.  (source)

WORLD - Islamic banking assets could reach $1.8 trillion by end of 2016

JEDDAH: Islamic banks may be bolstered by a nearly doubling of assets within five years, as borrowers seek alternative methods of financing due to a cutback in lending at European and US banks, according to a report by Deutsche Bank.

The bank expects that mortgage financing, particularly in Saudi Arabia, could provide $100 billion in assets to the overall industry. (source)

CAPITAL MARKETS - Albaraka Turk Hires Banks for as Much as $200 Million Sukuk

mobile.bloomberg.com - Albaraka Turk Katilim Bankasi AS (ALBRK), a Turkish Islamic lender, hired banks to offer as much as $200 million of five-year sukuk.

Albaraka Turk hired Deutsche Bank AG (DBK), Emirates NBD, QInvest Llc and Noor Islamic Bank, it said in a statement to the Istanbul Stock Exchange today. (source)

CAPITAL MARKETS - FRANCE - Al Baraka to launch 100 mln euro bank in France by H1 2012 - Albaraka Turk to issue Sukuk

JEDDAH, Saudi Arabia, Aug 11 (Reuters) - Bahraini Islamic lender Al Baraka will expand to France next year and expects to launch a bank with a capital of 100 million euros ($142 million) by the first half of 2012, the bank's top official told Reuters.

Al Baraka had announced in 2009 its plan to launch operations in France but had to postpone it due to the financial crisis. (source)

CAPITAL MARKETS - Turkiye Finans enters into USD 300 mln Murabaha Syndicated Loan

Specially aimed towards an SME program, Turkiye Finans signed off a one year USD 300 mln Muarabaha Syndicated Loan, arranged by Citibank with 20 underlying banks.

From Brunei Bank Islam and from Malaysia Malayab Bank are reported to have participated.  It is the first syndicated Murabaha in Turkey where we have seen a Southeast Asian participation.  Other participating banks were amongst others Deutsche Bank (GER), Standard Chartered (UK), IDB and NCB (KSA). (full story)