Dec 07 2011
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South Africa invites suitors for maiden sovereign Sukuk
As The Islamic Globe reported in October, South Africa is on the cusp of issuing its maiden Sukuk and yesterday the National Treasury requested lenders to submit proposals forthe structuring and issuance of a local and international Sukuk by December 21.
The process is due to close on January20, 2012 when the winning arrangers will be announced.
"There is great interest in the Sukukmarket and this is the first step towards meeting the growing appetite for government-backed Shari'ah compliant investments," Lungisa Fuzile, DG of theNational Treasury, said in the finance ministry's mid-term budget statement onOctober 25.
© The Islamic Globe 2011
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