14.09.2012 - Turkey plans lira-denominated sovereign sukuk
Turkey is expected to issue a lira-denominated sukuk, its second sovereign Islamic bond, by the end of September and demand for the instrument is likely to be high, the Turkish unit of Bahraini lender Al Baraka said on Thursday. Ayhan Keser, deputy chief executive of Al Baraka in Turkey , said the issue was expected to be of around 1.5-2.0 billion lira ($0.8-1.1 bln) with a maturity of two years. Al Baraka is one of the four "participation banks" - a term used in Turkey to refer to Islamic banks - which are expected to buy most of the lira-denominated sukuk...........................................Full Article: Source
Print