In Malaysia, National Mortgage Corporation (Cagamas) issued its second Sukuk reopening for the year - a RM375 million (US$91.35 million) three-year Islamic medium-term note program at a 3.95% yield, while UEM Sunrise completed the sale of RM510 million (US$124.7)-worth of Islamic notes. Bank Muamalat is proposing a subordinated Sukuk Murabahah program of up to RM1 billion (US$244.92 million).

More companies in the Middle East are turning to Sukuk for fundraising: Saudi Aramco is setting up a riyal-denominated Sukuk program and has mandated banks to arrange the sale of its debut offering; Jordan’s Al-Tajamaout for Touristic Projects is planning to issue Sukuk worth JOD45 million (US$63.27 million) facilitated by Jordan Dubai Islamic Bank, JordInvest and Bahrain-based Bank AlKhair; UAE-based DP World has launched a US$1.2 billion Sukuk facility and is due to price the paper, according to Bloomberg; Noor Bank was due to price its Tier 1 Sukuk this week, reported Reuters; and Emirates Islamic concluded the issuance of its US$750 million five-year Sukuk facility.