VOL. XLII

No. 26

28-June-1999

BAHRAIN

First Islamic And Societe Generale Launch LiquidityManagement Program

Bahrain痴 First Islamic Investment Bank and Societe Generaleannounced on 21 June that they are launching an Islamically structuredliquidity management program. The Ijara Liquidity Program will use the"sukuk" concept, in which investors will invest proportionately in alease portfolio with assets originated predominantly in the US. "Thisprogram is designed to fill a gap in the Islamic banking...