MALAYSIA: Toyota Capital targets first Sukuk drawdown from its RM2.5 billion (US$665.57 million) program in the third quarter of 2015

Monday, 6th July 2015

S&P 500 Shariah Dow Jones Islamic World FTSE Shariah All World Russell - IdealRatings Islamic Global 1,815.01 2,907.55 2,031.49 1,901.09 ▲ 0.24 (0.01%) ▼ -14.51 (-0.50%) ▼ -13.79 (-0.67%) ▲ 6.34 (0.33%)

HIGHLIGHTS: Alkhair Islamic plans Indonesian acquisition – GFH considers offering Sukuk – Brunei prepares to launch securities exchange – New hires at Eiger Trading and Barwa Bank

This week's poll question: What is the biggest concern with Islamic finance today?

Dutch acquisition for Islamic real estate specialist Daily Cover GLOBAL: Shariah compliant property specialist 90 North Real Estate Partners has made its initial foray into the Netherlands in partnership with Dubai’s Arzan Wealth – a move signaling the growing interest of investors beyond the traditional market of the UK and into new European jurisdictions. The acquisition of a newly built Siemens divisional headquarter office building in South Holland’s Zoeterwoude on behalf of Bruegel Property Company for EUR27 million (US$29.99 million) marks the third European investment for 90 North, bringing its European portfolio to EUR125 million (US$138.83 million) and EUR850 million (US$944.07 million) worldwide, confirmed Nick Judd, the founder and head of investment of the firm. “We are delighted as 90 North continues to grow its portfolio in continental Europe after last year in Germany and Norway, with its first acquisition in the Netherlands,” said Cherine Aboulzelof, a partner and the head of continental Europe at the firm. “This transaction highlights the commitment to invest in modern and well-let assets to strong covenants, such as the Siemens/NEM Energy asset which was a built-to-suit office property in a location where NEM has operated historically for over 80 years.” The office accommodation, developed and sold by VolkerWessels, is fully let to Siemens’s Dutch arm for a remaining term over 11 years and occupied by their subsidiary NEM Energy. 90 North acted as the investment advisor to Bruegel Property Company while Arzan Wealth was the strategic advisor on the structuring and acquisition of the property. While this may be the first Dutch transaction for 90 North, founder and managing partner Philip Churchil (also IFN Correspondent) noted that there is a rising preference among Middle Eastern investors in channeling funds into the Northwestern European nation as well as into new continents (See IFN Correspondent Report: ‘Tired of London?’), boding well for Islamic cross-border investment opportunities. Real Estate: An IFN Correspondent Report Tired of London? “You find no man, at all intellectual, who is willing to leave London. No, sir, when a man is tired of London, he is tired of life; for there is in London all that life can afford,” so said Dr Samuel Johnson in 1773. IFN Weekly Poll Which segment of the industry is the main contributor to the increase in global Islamic finance assets? Islamic finance assets grew at an annual growth rate of 17.3% between 2009 and 2014. The double-digit growth benefited from the various thriving sectors of the niche industry. For the poll installment last week IFN asked the industry which market segment is the driving factor for the increase of global Islamic finance assets. NABILAH ANNUAR writes. This week's poll question: What is the biggest concern with Islamic finance today? Today's IFN Alerts MALAYSIA: Toyota Capital targets first Sukuk drawdown from its RM2.5 billion (US$665.57 million) program in the third quarter of 2015 MALAYSIA: Sunway Treasury Sukuk to issue Sukuk MALAYSIA: Bank Negara Malaysia issues RM600 million (US$159.74 million) Murabahah tender TURKEY: Turkiye Finans shows full support for IFN Turkey Forum 2015 as lead partner BAHRAIN: Gulf Finance House plans Sukuk, IPO and acquisition BRUNEI: Brunei to launch its own stock exchange in 2017 MALAYSIA: Alkhair International Islamic Bank to expand banking footprint into Southeast Asia through acquisitions; plans to issue Sukuk KENYA: IFSB admits First Community Bank as member QATAR: Qatar Islamic Bank launches Ramadan car financing deals through partnership with automotive dealers MALAYSIA: HSBC Amanah rolls out new product in support of eradicating education inequity MALAYSIA: RAM withdraws ratings of Syarikat Borcos Shipping’s Sukuk MALAYSIA: RAM reaffirms NUR Power’s top Sukuk ratings QATAR: Barwa Bank promotes Ahmed Abdulaziz Al Emadi to the role of head of corporate banking UK: Riyad Bank’s John Morris joins Eiger Trading as associate director UK: 90 North signs up three new hires GLOBAL: IFN Asia Forum breaks 1,000-delegate mark yet again – dates for next year confirmed SAUDI ARABIA: Islamic Corporation for the Development of the Private Sector chief to deliver keynote address at the IFN Saudi Arabia Forum MALAYSIA: Industry leaders address Islamic finance investment opportunities at IFN Asia Investors Day Forum 2015 SAUDI ARABIA: Saudi British Bank supports IFN Saudi Forum 2015 as lead partner

IFN Issuers Forum 2015 13th September 2015 (Dubai) IFN Kuwait Forum 2015 5th October 2015 (Kuwait City) IFN Egypt Forum 2015 27th October 2015 (Cairo) IFN Turkey Forum 2015 17th November 2015 (Istanbul) IFN Saudi Arabia Forum 2015 30th November 2015 (Jeddah) Funds Transfer Pricing 6th - 8th July 2015 (Hong Kong) Managing Counterparty Credit Risk, Basel III and Recent Regulatory Issues 9th - 10th July 2015 (Hong Kong) Understanding Islamic Contracts: Structuring & Legal Issues 17th - 19th August 2015 (Dubai) Islamic Financial Services Act (IFSA) 2013 & Islamic Banking Products 18th & 25th August 2015 (Kuala Lumpur) Shariah Audit & Governance for Islamic Banking 20th - 21st August 2015 (Kuala Lumpur) Islamic Finance Qualification 23rd - 25th August 2015 (Dubai) Advanced Sukuk & Islamic Securitization 24th - 26th August 2015 (Istanbul) Undertaking Effective Litigation & Recovery in Islamic Finance Facilities 7th - 8th September 2015 (Kuala Lumpur) Sharia’a Compliance & Audit for Islamic Banks 8th - 9th September 2015 (Dubai) Funds Transfer Pricing 5th - 7th October 2015 (Kuala Lumpur) Trading Book Market Risk Management for Financial Institutions 8th - 9th October 2015 (Kuala Lumpur)