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

Jordan: Rajhi announces groundbreaking Sukuk issuance

Posted on 20 April 2011

Al Rajhi Cement Company on Tuesday became the first company in Jordan to tap Islamic sukuk to finance its operations in the Kingdom. Last year, the Cabinet approved the issuance of Islamic bonds (sukuk) for Al Rajhi group at its request for financing an expansion of its investment base in Jordan.
However, the Cabinet demanded that Al Rajhi coordinate with legal bodies in the Kingdom, including the iftaa department, and should buy the sukuk from Jordanian banks……………………………………….Full Article: Source

 
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