News

ADIB Global Sukuk fund completes $160m fund raise

Abu Dhabi Islamic BankA newly launched global sukuk fund from the Abu Dhabi Islamic Bank (ADIB) has secured AED587 million (US$160 million) in capital. The Global Sukuk fund was launched in October 2021 was a way to offer investors access to a global universe of sharia-compliant of sovereign, quasi-sovereign and corporate bonds. According to ADIB, the fund raise demonstrates “significant market appetite for high-quality sharia-compliant investment products”. A report released in January by Fitch Ratings forecasts that the global sukuk volumes are expected to grow in 2022 following a successful 2021 in which the total sukuk issued grew by 36.1% year-on-year to $252.3 billion. “Growth will be anchored by robust Islamic investor appetite, funding diversification goals, and Islamic-finance development agendas in a number of countries,” said Bashar Al-Natoor, global head of Islamic Finance at Fitch. “Downside risk stems from higher oil prices reducing a number of sovereigns’ funding needs, compliance complexities, traditional risks such as interest-rate rise, lower global investor appetite for emerging-market debt, and political risk,” he added. ©2022 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

Roundtables

Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.