06.06.2011 - Palestinian Authority to issue $50mln Sukuk
The Palestine Monetary Authority hopes to issue to banks its first ever Islamic bond worth $50 million by the end of June, its governor Jihad Al Wazir said. The authority originally aimed to issue the bonds, or sukuk, in the first quarter, but obtaining the approval of the issue being in line with Sharia, or Islamic law, delayed the plan. "We are issuing a $50 million sukuk so it is relatively small, but it is testing the market and it will be a useful instrument. Expected maturity is probably five years," Al Wazir said..............................................Full Article: Source
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