Monday Morning:The Monetary Authority of Singapore (MAS) is the first central bank in a non-Muslim majority jurisdiction to develop an ongoing local-currency program for issuing the bonds, known as sukuk, they said.
“This sukuk is the Sharia-compliant equivalent of Singapore government securities, and is of the highest credit standing”, MAS Managing Director Heng Swee Keat said at a signing ceremony.
The program is jointly arranged by Standard Chartered Bank and the Islamic Bank of Asia, which was set up in 2007 by Singapore’s DBS Bank and prominent investors from the Arab Gulf region...Continue Reading
Tuesday, January 27, 2009
A sovereign Islamic bond facility established
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