National Australia Bank mulls Sukuk sale
It seems that National Australia Bank (NAB) is taking into consideration a sale of up to $500 million of Sukuk as Australian investors request less risky investments.
According to two people familiar with the deal, the bank is considering the sale, which would make it the first institution to issue Sukuk in Australia.
Crescent Wealth thinks that the investable universe for Islamic funds in Australia is worth between $4 billion and $8 billion, with potential to grow to between $7 billion and $13 billion by 2019.
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