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Goldman Sachs to list $2bln Sukuk

Posted on 21 October 2011

Ireland’s burgeoning Islamic finance industry got a boost yesterday when financial behemoth Goldman Sachs was approved by the Central Bank to list a $2 billion “sukuk” bond on the Irish Stock Exchange, the Global Sukuk Company.
The bond, incorporated in the Cayman Islands, is compliant with Sharia, Islamic religious law, and will act as a trustee and seller of “murabaha” trust certificates. Murabaha is a contract whereby the seller must disclose its profit to the buyer……………………………………….Full Article: Source

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