Mubasher: Al Baraka Banking Group – Turkey (Al Baraka Turk), has issued leasing certificates, sukuk, at a total value of 250 million Turkish Lira ($40.6 million).

Al Baraka Turk, which is listed on Nasdaq Dubai and Bahrain Bourse (BHB), has issued the sukuk through Bereket Varlık Kiralama Şirketi, according to a recent statement.

The target amount of this sukuk issue was 200 million Turkish Lira, but due to the high demand on the certificates that exceeded 1.68 times, the issue was closed at 250 million Turkish Lira.

The sukuk has a maturity date of 98 days, the statement added.