Indonesia has mandated HSBC, Standard Chartered and CIMB Group Holdings Bhd to arrange a sovereign sukuk issue of up to $1.5 billion, sources aware of the matter told Reuters on Monday.
The head of the Indonesian finance ministry's debt management office, Robert Pakpahan, confirmed that the government had appointed the three banks as underwriters. He did not specify the size of the planned issue or give other details.
Bahrain's central bank has released a consultation paper to study possible changes to rules for sharia-compliant financing arrangements which the kingdom's Islamic banks can offer to accredited investors.
Gulf issuers of overseas bonds, kept on the sidelines by volatile markets, may revive their issue plans after Dubai Islamic Bank , the largest Islamic bank in the United Arab Emirates, completed a $1 billion sukuk issue.
SapuraKencana Petroleum Bhd , a Malaysian oil and gas services firm, said on Thursday it has signed a $2.3 billion Islamic loan with 11 lenders.