VOL. XLVII

No 13

29-March-2004

CAPITAL MARKETS

German State To Issue Europes First Islamic Bond

The German state of Saxony-Anhalt announced on 23 March that it hoped to attract Arab investors with Europes first Islamic bond issue of around 100mn to finance the states debt. The bond is a way of tapping into the strong Arab market, said regional Finance Minister Karl-Heinz Paque, who said that he also hoped to draw non-Arab investors when the bond was issued in May or June. The issue is being...