| Riyadh-based Al Bayan Holding became the first Saudi Arabian company to issue an Islamic bond in Malaysian ringgit, paving the way for more corporations from the Kingdom to tap into Malaysia’s market, the world’s biggest for sukuk.
Al Bayan issued 200 million ringgit ($65.4 million) as the first tranche of a newly established 1 billion ringgit program, a statement from Guidance Financial Group, the company’s advisers, said Wednesday. Pricing details were not immediately available...............................................Full Article: Source |