KFH-Turkey to launch a $500 million Islamic bond
Kuwait Finance House's (KFH) Turkish unit will launch a 500 million US dollar Islamic bond by the end of the year.
Mohammed Al-Omar said the Islamic lender will issue the benchmark Sukuk following the success of Turkey's first Islamic bond offering, from lender Kuveyt Turk in August.
Al-Omar noted that the law is a significant step forward that reveals a great desire by many Turkish companies that have good assets but lack the suitable financing to expand locally and overseas to benefit from this new financing instrument; especially after those companies realized the numerous benefits of Sukuk, which include providing financing through Sukuk while neither hindering projects nor exhausting their budgets.
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