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IDB to issue sukuk
- Saudi Arabia: Thursday, November 27 - 2008 at 14:42
Saudi Arabia's Islamic Development Bank will issue Islamic bonds (sukuk) in order to collect funds from the international market place in support of member countries affected by the global financial crisis, reported Arab News, citing the bank's President Ahmed Mohammed Ali. He said a committee has been set up to study the various aspects and effects of the global financial crisis and identify resources to finance investment projects in Muslim countries. Seeking new financial resources was essential, he added, in anticipation of a substantial decline in foreign investment as a result of the global recession.
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Jeff Florian, Senior ReporterThursday, November 27 - 2008 at 14:42 UAE local time (GMT+4)
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