Middle East Economic Survey
BMA And Citigroup Complete $250Mn Ijara Sukuk Issue
The Bahrain Monetary Agency (BMA) and Citigroup on 29 June signed the documentation for BMAs debut international bond issue, a $250mn Ijara sukuk (Islamic leasing bond). The five-year, floating rate note, which matures on 30 June 2009, is the ninth in BMAs Ijara sukuk series and brings total issues to a value of $1.03bn. The rental return on the sukuk is 45 bps over...