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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Market Moves more

S.Africa: Treasury looking abroad with Islamic bonds

Posted on 06 July 2012

S.Africa is preparing to launch sub-Saharan Africa’s first Islamic bond, paving the way for issues by other countries in the region, Treasury officials said.
Thuto Shomang and Monale Ratsoma of the National Treasury’s government borrowing department say SA is leaning towards a dollar-denominated, five-year sukuk, using an ijara structure. “It’s the one that seems to attract investors’ interest. That’s the one that the recommendations have been on so far,” says Mr Ratsoma, adding that first-time issuers usually chose five-year tenors………………………………………..Full Article: Source

 
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