The Japan Bank for International Cooperation will sell its first Islamic bonds in Malaysia by mid-2007.
The bank is set to offer investors ringgit denominated Sukuk between US$200 million and US$300 million in value.
Japan Bank, Malaysia’s main overseas lender, seek to cash in on the oil wealth Muslim investors are seen to bring. Investors are now looking to the Middle East in light of the oil boom, with the International Monetary Fund speculating revenue of US$500 billion for Arab states at end of 2006. |
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