Islamic finance deals 2003-2004
ISLAMIC BANKING HAS had a groundbreaking year, particularly in the market for medium-term and long-term Shariah-compliant bonds. Islamic finance specialists believe the market for these instruments, categorized as sukuk, is now set for further rapid expansion as investors and borrowers worldwide start to understand its appeal.
The most significant recent transaction was the e100 million issue in July for the German state of Saxony-Anhalt, the first for a European borrower to be Islamically structured.
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