| From Dow Jones: The International Finance Corp. said Wednesday it will list a $100 million, five-year Islamic bond with the Nasdaq Dubai and Bahrain stock exchanges.
The private-sector financing arm of the World Bank plans to become the first non-Islamic financial institution to issue a so-called sukuk for term funding in the Gulf Cooperation Council. The bonds comply with Islamic law, known as Shariah, by not charging interest. Instead, sukuk make payouts derived from underlying assets sold to a special purpose vehicle that is the issuer of the paper........................Full Article (Subscription Required): Source
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