The Central Bank of Yemen sold its first sukuk under the salam program worth YER 50 billion (USD 232 million) marking the country’s return to the sukuk market this year.
The one-year sukuk was issued on April 1, 2012, and matures on April 2, 2013. The Shariah structure is approved by the Shariah Supervisory Board of the Central Bank, Kamal Al Rabie, head of the sukuk unit at the central bank, told Zawya in a phone conversation. The sukuk offers a return of 15% to 18%, according to Rabie………………………………………..Full Article: Source