30.07.2012 - Kazakhstan joins sukuk bandwagon; South Africa to follow?
July was yet another exceptional month in the sukuk landscape as it witnessed the issuance of two debut sukuk, the first being the long-awaited Development Bank of Kazakhstan (DBK) issue that came in the form of a Malaysian ringgit tranche of MYR 240 million (USD 75 million) marking the first ever Islamic bond by a CIS country or former Soviet republic issuer. The move is expected to leave a positive impact on the growth of the industry in the majority Muslim Kazakhstan and is likely to spur more issues in Central Asia's largest economy. DBK is the largest development financial institution in Kazakhstan and is wholly owned by the government through its sovereign wealth fund, Samruk-Kazyna...............................................Full Article: Source
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