King & Spalding's Measure: The Middle East Quarterly Bulletin - Summer 2013

more+
less-

In This Issue:

- Europe’s First Subordinated Tier 2 Sukuk: Asya Sukuk Company Limited

- Amendments to the SCA Regulations in the UAE

- Regulation Key to Dubai Real Estate Strength

- Gulf Property Investors Target US Real Estate

- Saudi Pharmaceutical Market: Prospects and Challenges

- Excerpt from Europe’s First Subordinated Tier 2 Sukuk: Asya Sukuk Company Limited:

Around the end of the year 2012, Abu Dhabi Islamic Bank’s US$1 billion Tier 1 hybrid perpetual sukuk was overwhelmingly welcomed by the market.

This was recently followed by a similar US$1 billion Tier 1 hybrid perpetual sukuk issuance by Dubai Islamic Bank indicating that Islamic financial institutions are now accessing the securities market as a source of capital raising in order to maintain their capital ratios.

On 28 March 2013, Asya Katilim Bankasi A.S. (Bank Asya) issued the first Tier 2 subordinated sukuk out of Europe and the Middle East, further illustrating the expanding use by Islamic financial institutions of sukuk to manage capital ratios. This pioneering issuance came with its challenges, particularly from a Turkish regulatory and laws perspective.

Please see full newsletter below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

EU

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© King & Spalding | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×