Kazakhstan Development Bank held a successful debut 5-year release of the Islamic Sukuk worth more than 11.350 billion tenge. The interest rate will be 5.5% per annum. The share of Kazakh investors accounted for 38% of total output.
Islamic financial instruments has begun to appeal to Kazakhstan and at the end of the year, economists expect further growth in this segment of the financial market. A successful debut issue of 5-year Sukuk Al-Murabaha by the Kazakhstan Development Bank gives rise to optimistic forecasts. The output of shares equaled to 11.350 billion with a 5.5% interest rate per annum………………………………………..Full Article: Source