IslamicFinance.de

Malaysian property developer Sunway will raise up to 2 billion ringgit ($633 million) by issuing sukuk mudharaba, it said in August; short-term commercial paper under the programme will have maturities of between a month and a year, while medium-term notes will have maturities of one to seven years. Sunway will make its first issuance within two years. Turkey's Treasury said it plans to issue lira-denominated sukuk worth 1.5 billion lira ($705 million) in October. Tunisia will sell its first sovereign Islamic bond in September after months of delays, raising $140 million. The Islamic Development Bank plans to issue a benchmark-sized sukuk around May next year, close in size to a $1.5 billion, five-year sukuk which it issued in February this year, among others.