Falcon Private Bank is planning to launch a fund early next month that will invest in global sukuk.The fund will be offered to the bank’s clients and could grow to $500 million, according to Zafar Khan, Falcon’s Mena chief executive. There is alreade substantial demand from the bank's clients for global sukuk investments, he added. He also considers the yields of the past two years dislocated and the current yields more realistic to the underlying risk.
Al Izz Islamic Bank has announced the lunch of its IPO by next month. The bank has already received approval from the regulatory authority. According to bank officials, the shares should probalbly be listed on the stock market as soon as in September.
A group from Aabar Investments plans to set up the first Islamic bank in Oman - Al Izz Islamic Bank. The promotion of the bank is conducted under the supervision of Abu Dhabi's Aabar , Oman's Huriah Company and Dubai-based Tasameem Real Estate Company. The bank's role will be to provide comprehensive business and retail Islamic banking solutions in accordance with Omani law.