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Islamic Finance Briefing - Categorized | Bonds (Sukuk) more

Sudan’s Bank of Khartoum to restart Islamic bond sales

Posted on 25 October 2012

Bank of Khartoum, Sudan’s oldest bank, plans to start selling Islamic corporate bonds, or sukuks, again as the economic outlook for African country improves in the wake of an oil deal with South Sudan, its general manager said.
Fadi Salim Faqih told Reuters the Islamic bank, which is around a fifth-owned by Dubai Islamic Bank, expects to post a record profit this year boosted by strong lending and a substantial windfall from the devaluation of the Sudanese pound. “A couple of sukuks have been started,” Faqih said in an interview late on Tuesday, saying the bank could realistically issue $100 million in bonds for local companies by early 2013………………………………………..Full Article: Source

 
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