KFH
KFH`R
KFH`R
Emad Al Monayea, Board Director and Chief Executive Officer of Kuwait Finance House Investment Company (KFH-Investment), said the company is participating in arranging $500m sharia compliant sovereign bond for South Africa.
In early August, news reports revealed that South Africa aims to become the world’s second non-Muslim country to issue a sukuk.
South Africa said it had hired BNP Paribas, Standard Bank and KFH Investment to handle meetings with investors. The South African government cautioned that a sukuk would depend on market conditions.
The move represents a potentially significant boost for the profile of Islamic finance in Africa. Until now, Gambia and Sudan have been the only countries on the continent to issue a sukuk – and they were only for tiny sums. But African countries are keen to issue sukuk in order to attract cash-rich Middle Eastern and Asian investors to finance their large infrastructure programs.
In related development ,KFH announced recently it has participated in arranging USD 750 mln debut sukuk for the emirate of Sharjah.
In early August, news reports revealed that South Africa aims to become the world’s second non-Muslim country to issue a sukuk.
South Africa said it had hired BNP Paribas, Standard Bank and KFH Investment to handle meetings with investors. The South African government cautioned that a sukuk would depend on market conditions.
The move represents a potentially significant boost for the profile of Islamic finance in Africa. Until now, Gambia and Sudan have been the only countries on the continent to issue a sukuk – and they were only for tiny sums. But African countries are keen to issue sukuk in order to attract cash-rich Middle Eastern and Asian investors to finance their large infrastructure programs.
In related development ,KFH announced recently it has participated in arranging USD 750 mln debut sukuk for the emirate of Sharjah.
Source:
Mubasher Exclusive
