MALAYSIA - CAPITAL MARKETS - Yuan-denominated sukuk by Khazanah

PETALING JAYA: Khazanah Nasional Bhd has issued its first offshore yuan-denominated sukuk of 500 million yuan (RM246mil) via Danga Capital Bhd, a Malaysian-incorporated special purpose vehicle.

The three-year benchmark sukuk was priced through a book-building process on Oct 13 and at the tightest end of the price guidance at 2.90%, the company said in a statement.  (source)

MALAYSIA - JAPAN - Mizuho To Make Malaysia Global Hub For Islamic Finance

KUALA LUMPUR, Sept 5 (Bernama) -- Mizuho Corporate Bank Ltd (MHCB), one of the oldest banks in Japan, will make Malaysia its global hub for Islamic finance once it receives Bank Negara Malaysia's (BNM) approval.

MHCB, part of Mizuho Financial Group Inc, is one of the world's largest full-service financial conglomerates. (source)

IDB - FINANCE - IDB urged to make trade financing more competitive

Behind the resolutions, the statements and the rhetoric of the Board of Governors of the Islamic Development Bank (IDB) at the recent 36th Annual Meeting which was held in Jeddah on June 29-30, were some commendable suggestions from member countries aimed at speeding up the efficiency and effectiveness of the bank. (source)

MALAYSIA - Labuan IBFC banking posts record pre-tax

KUALA LUMPUR: The Labuan International Business and Financial Centre's (Labuan IBFC) banking sector posted a record pre-tax profit for the financial year ended December 31 2010, it was disclosed yesterday.

The Labuan banking industry recorded its best ever performance in terms of pre-tax profits, which increased by 114.8 per cent to US$536.4 million (RM1.6 billion), compared with US$249.7 million (RM749 million) in 2009, said Bank Negara governor and Labuan Financial Services Authority (Labuan FSA) chairman Tan Sri Dr Zeti Akhtar Aziz. (full story)