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Malaysia may sell Islamic bonds to fund $16 bln rail project

Posted on 04 April 2011

Malaysia may sell ringgit- denominated Islamic bonds to help finance construction of a mass railway in Kuala Lumpur as part of a $444 billion investment program, Prime Minister Najib Razak said in an interview.
The government estimates the network will cost 48 billion ringgit ($16 billion) to build, making it the single biggest development project undertaken by Southeast Asia’s third-largest economy……………………………………….Full Article: Source

 
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