| During March, Saudi dairy and poultry firm Almarai issued the first series of its SAR 3.2 billion (USD 853 million) sukuk program for SAR 1 billion, which used a mudaraba-murabaha structure. According to Zawya's sukuk database, there have only been 22 issues using this structure, mostly by two companies -- LBS Bina Group and KNM Capital -- in Malaysia.
The use of this structure in the GCC has been driven by HSBC's Saudi Arabian unit, which advised on SABB's Tier II subordinated sukuk also issued in March, and the sukuk issued by the Islamic Bank Aljazira in the first quarter of 2011...............................................Full Article: Source
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