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Islamic Finance Briefing - Categorized | Bonds (Sukuk), New Launches more

Yemen plans first Sukuk offering to fund budget deficit

Posted on 06 January 2011

Jalal YaqoubFrom Boomberg: Yemen, the poorest country in the Middle East, plans to sell $500 million of local currency Islamic bonds for the first time to fund the budget deficit and spur the Shariah-compliant finance industry.

The central bank may offer sukuk in the domestic market from the first quarter, Deputy Finance Minister Jalal Yaqoub said in a telephone interview Dec. 29 from Sanaa, the capital. The government is seeking technical assistance on the sale from the International Monetary Fund…………………………………….Full Article: Source

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