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GFH's unit issues $900m green Sukuk

GFH's unit issues $900m green Sukuk
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Mubasher: Infracorp, the infrastructure and sustainability arm of GFH Financial Group, has issued a $900 million green Sukuk listed on London Stock Exchange.

The first green Sukuk issued by a Bahraini entity reflects Infracorp’s objective to boost the development of sustainable infrastructure across MENA and South Africa and generate long-term returns for investors, according to a press release on Monday.

Infracorp manages infrastructure assets worth around $3 billion, including a 250 million square feet land bank that targets sustainable economic and social infrastructure.

The Chairman of Infracorp, Hisham Alrayes, said: "This Sukuk will enable positive and sustainable impact on the infrastructure development sector across the Gulf, North Africa, and South Asian regions and is a response to the market’s appetite for opportunities that generate returns also in addition to participating in leaving a significant and tangible ESG impact."

Meanwhile, Alrayes added: "With Green Sukuks growing by more than 17% year-on-year in 2021 to $15 billion and expected to remain a key theme of the Islamic finance market in 2022, Sukuk issuance activity is expected to stand between $160 and $170 billion in 2022, according to Moody’s."