INTERNATIONAL INSTITUTE OF ISLAMIC FINANCE INC

Goldman Sachs Group Inc. (GS) beat out Fortress Investment Group LLC (FIG) for the right to lend Arcapita Bank up to USD 350 million that would ease the Bahraini investment firm out of Chapter 11 bankruptcy.

The 2008 global fiscal distress has pushed investors to seek safer instruments and this has largely boosted demand for Islamic bonds (sukuk), which peaked at nearly USD 139.4 billion in 2012, according to Saudi Arabia's largest bank.

Al Madina Financial and Investment Services has submitted an issue prospectus with the Sultanate's market watch dog CMA for privately placing OMR 50 million Islamic debt instrument or sukuk.

Qaf Group Holding Company has established its headquarters in Riyadh under the sponsorship of its Chairman Sheikh Khalid Bin Ahmed Al-Suwaidi.

Al Hilal Mena Fund (AHMF), an open-ended fund based on Mudaraba structure, operating in accordance to the principals of Sharia is set to be launched on May 22, 2013.