Banque Saudi Fransi (BSFR), partly owned by Credit Agricole SA, said it received approval from the Saudi central bank to issue as much 2.5 billion riyals ($667 million) in sukuk.
The Islamic bonds will enhance the bank’s capital base and help expand its lending activities, the Riyadh-based lender said in a statement to the Saudi bourse website today. The maturity of the sukuk is no more than five years, it said………………………………………..Full Article: Source