FWU AG Group (FWU), a Munich-based financial services company, recently issued a US$55,000,000 Sukuk - the first ever Sukukissuance by a German corporate and the largest ever Sukuk from a European Corporate. This is also the first Sukuk to utilize a computer software programme and intellectual property rights under an Ijara structure.
FWU, which primarily offers global Takaful (Islamic insurance) solutions through strategic cooperation and distribution arrangements in Europe, the Middle East and Malaysia, entered into the transaction through the Dubai branch of its subsidiary FWU Dubai Services GmbH. The ultimate financiers were GCC-based investors represented by Takaful companies that have assisted FWU in raising funding under the Ijara-based (sale and leaseback) method. (Press Release)” target=”_blank”>Source