Sudan Delays $300 Million Islamic Bond Sale Due to Financial Crisis Impact
Sudan plans to delay the sale of $300 million of Islamic bonds until next year, after originally planning the sale for 2008, as it waits for global markets to recover from the economic crisis. Sabir al-Hassan said that they are waiting for the right environment. The sale of the bonds, known as Sukuk, may take place this year if conditions improve. The country is sub-Saharan Africa’s third-biggest oil producer.
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