THE Autoriti Monetari Brunei Darussalam (AMBD) yesterday announced the successful pricing of its 74th issuance of sukuk, or Islamic bonds, worth $100 million at a rental rate of 0.18 per cent.
As the government's managing and administering agent for the Sukuk Al-Ijarah issuances, the AMBD said the latest issuance was made on June 7, 2012, with the bonds having a 91-day maturity period ending September 6, 2012.
"With this issuance, the Brunei Government has thus issued over B$4.251 billion worth of short-term Sukuk Al-Ijarah securities since the maiden offering on April 6, 2006," the AMBD said in a press release.
Islamic bonds do not pay interest, which is banned as usury under Islamic law, and are structured as profit-sharing or rental agreements underpinned by physical assets.
The Brunei Times
Wednesday, June 13, 2012
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