| [Business Times]The Palestine Monetary Authority hopes to issue to banks its first ever Islamic bond worth US$50 million (RM150 million) by the end of June, its governor said. The authority originally aimed to issue the sukuk, in the first quarter, but obtaining the approval of the issue being in line with syariah, delayed the plan. "We are issuing a US$50 million sukuk so it is relatively small, but it is testing the market and it will be a useful instrument. Expected maturity is probably five years," he added. The sukuk issue will be denominated in US dollars and based on the ijara concept. |
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