Middle East Economic Survey

VOL. XLVII

No 41

11-October-2004

CAPITAL MARKETS

First Islamic Banks 75Mn Sukuk Issue Oversubscribed

Bahrains First Islamic Investment Bank has issued a 75mn sukuk in conjunction with the Manama-based Liquidity Management Centre (LMC), which is acting as the manager for the issue. The sukuk, known as First Islamic Registered Aman Euro Notes (Euro FIRSAN), was oversubscribed by 25mn, and was increased to 75mn from the 50mn originally projected to accommodate the strong...