IslamicFinance.de

Turkey's Capital Markets Board has approved issuance of ringgit-denominated Islamic bonds by Turkiye Finans Katilim Bankasi and a debut lira-denominated deal by Zorlu Energy. Islamic lender Turkiye Finans will raise up to 2.05 billion ringgit ($553.7 million) via sukuk, issued by its wholly-owned unit TF Varlik Kiralama. Separately, Zorlu Energy received approval to raise 100 million lira ($38.4 million) via sukuk. So far the bulk of sukuk issuance has come from the government and the country's four Islamic banks. Islamic lender Kuveyt Turk also plans to issue a debut sukuk in the Malaysian market, through a 2 billion ringgit programme.