IslamicFinance.de

Tunisia, where citizens started voting for a new parliament, plans to raise $500 million from the sale of sukuk by the end of November, according to Finance Minister Hakim Ben Hammouda. Consultations with Citigroup Inc., Natixis SA, Standard Chartered Plc and Qatar-based QInvest are ongoing, Hammouda said. Former Finance Minister Elyes Fakhfakh in July 2013 said the nation would raise as much as $700 million from the sale of Islamic bonds, the same month it approved a sukuk law. Tunisians cast ballots for a new parliament today, marking a milestone in the North African nation’s transition to democracy following the ouster of President Zine El Abidine Ben Ali more than three years ago. Results are expected Oct. 29, and presidential elections are scheduled for next month.