Apr 02 2012
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EXCLUSIVE: Yemen sells first salam sukuk worth YER50bn
The one-year sukuk was issued on April 1, 2012, and matures on April 2, 2013. The Shariah structure is approved by the Shariah Supervisory Board of the Central Bank, Kamal Al Rabie, head of the sukuk unit at the central bank, told Zawya in a phone conversation. The sukuk offers a return of 15% to 18%, according to Rabie.
The Yemeni government is keen to issue sukuk and take part of the growing industry in the region. Last year, Yemen sold YER 4 billion sukuk Istisnaa, according to Zawya Sukuk Monitor, which carries a tenor of two years and matures in February 2013.
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