22.01.2013 - Bank Muamalat to sell $73 mln in sukuk bonds
Shariah-compliant lender Bank Muamalat Indonesia plans to sell Rp 700 billion ($73 million) worth of sukuk Islamic bonds in the first half of 2013, of which the proceeds will be used for branch expansions. The bond sale is part of the lender’s plan to issue a total of Rp 1.5 trillion worth across several years. “Last year, we issued the first one, worth Rp 800 billion, that offers 10.21 percent yield,” Meitra N. Sari, the company’s corporate secretary, said on Friday. Shariah bonds comply with the Islamic teaching that bans interest, instead using asset returns to pay back investors...............................................Full Article: Source
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