Middle East Economic Survey

VOL. XLVII

No 29

19-July-2004

CAPITAL MARKETS

BMA To Launch $106Mn Dinar-Denominated Ijara Sukuk

The Bahrain Monetary Agency (BMA) is to issue its first Bahraini Dinar denominated Ijara sukuk (Islamic leasing bond) worth BD40mn ($106mn). The fixed rate note will have the longest ever tenor on this type of bond of 10 years. Our aim, with this issue, is to establish a yield curve benchmark for longer-term securities, commented Walid Rashdan, Executive Director of Banking...