Bahrain sets $438m sukuk auctioning.Byline: Manama Manama Arabic Al-Manamah City (pop., 2001: 143,035), capital of Bahrain. Situated at the northeastern tip of Bahrain island, it is Bahrain's largest city, with about one-fifth of the emirate's population. Bahrain Bahrain or Bahrein (both: bärān`, bə–), officially Kingdom of Bahrain, constitutional monarchy and archipelago (2005 est. pop. 688,300), 266 sq mi (689 sq km), in the Persian Gulf. is auctioning a three-year BD165 million ($437.8 million) sukuk Sukuk (Arabic: صكوك, plural of صك sakk, "legal instrument, deed, check") is the Arabic name for a financial certificate but can be seen as an Islamic equivalent of bond. at a fixed rate of 3.75 per cent, two sources have said. 'Bids are due tomorrow, it will be issued September 24 and mature in 2012,' a banker at a Bahraini retail bank said. Bahrain in June issued a $750 million dollar-denominated sukuk, which attracted orders of about $4 billion on strong demand from the Middle East. The Central Bank of Bahrain The Central Bank of Bahrain was established in 1973 as the Bahrain Monetary Agency, shortly after Bahrain gained its independence from the United Kingdom. As per Decree No. following the issue said a local currency sukuk of about $530 million would follow.- TradeArabia News Service Copyright 2008 www.tradearabia.com Copyright 2009 Al Hilal Publishing & Marketing Group Provided by Syndigate.info an Albawaba.com company |
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