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European sukuk sellers tapping Malaysia as crisis curbs lending

Posted on 22 October 2012

Malaysian tax breaks on sukuk are luring companies from Germany, France and Turkey to tap the world’s biggest Islamic bond market as Europe’s debt crisis curbs lending. CIMB Group Holdings and AmInvestment Bank, among the top three sukuk arrangers in Malaysia this year, said they are seeing increased interest after the government extended tax exemptions for foreign issuers to 2014 in the September budget.
Ireland’s state-owned power producer is the only European entity that’s so far revealed plans to sell ringgit-denominated securities complying with religious tenets………………………………………..Full Article: Source

 
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