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Al Tamimi & Company leads Jordan’s first Sukuk

Posted on 06 June 2011

Al Tamimi & Company’s Jordan and Kuwait offices served as lead counsel in the closing of a JOD 85 million ($119.9 million) Sukuk Al Ijara Mountahia Bittamlik.
The transaction, led by Khaled Saqqaf, partner and head of the Jordan and Iraq offices, and Alex Saleh, partner and head of the Kuwait office, marks the first ever issuance of an Islamic Sukuk in Jordan. Closing on 1 March 2011, the transaction took place after the Jordanian Cabinet of Ministers approved a number of tax exemptions for the issuance of Islamic bonds for Al Rajhi Cement / Jordan PSC, a Shari’ah-compliant company, in October 2010……………………………………….Full Article: Source

 
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