Middle East Economic Survey

VOL. LII

No 24

15-Jun-2009

BAHRAIN

Bahrain Sovereign Sukuk Lifted By Buoyant Oil

Bahrains sovereign sukuk came in eight times oversubscribed last week, after investor interest was boosted by strong oil prices as WTI crude jumped over $70/B. The sukuk issue, which was launched on 10 June, was originally pegged at $500mn, but subsequently increased by the Central Bank of Bahrain (CBB) to $750mn amid strong demand. The five-year sukuk (which are an Islamic product similar...