13.12.2012 - Barriers to Islamic bonds set to be surmounted
Non-bank lender Firstmac and banks rumoured to be preparing to issue Islamic bonds, or sukuk, will be beaten by solar panel and heating installer the Solar Guys. The company is part of the fast rise in demand for this form of finance, with issuance forecast to triple to $US900 billion by 2017, a report by Ernst & Young claims. Sukuk is being promoted as ideal for Australia’s capital-intensive industries such as construction or mining, but tax rules and pricing are still limiting access. Some also see sukuk as a way to help meet the huge shortfall in infrastructure funding Australia is facing...............................................Full Article: Source
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