05.05.2009 - Indonesian Islamic bonds gain a foothold
From asiasentinel.com: The recent issuance of $650 million of Indonesian government dollar-denominated retail Islamic bonds with a five year maturity and an 8.8 percent yield, backed by a 100 percent government guarantee and underlying assets, received orders totaling $4.7 billion and was massively over-subscribed. That is despite the global economic and financial crisis and question marks over poor Western banking and finance practices, with possible repercussions for Islamic banking and finance. Bond proceeds will be used to finance government debt.......Full Article: Source