IslamicFinance.de

The National Treasury invited on 6th December banking institutions to submit proposals for the provision
of advisory services for the structuring and issuance of a government Islamic bond (“Sukuk”) in
the local and international markets.
The invitation is in line with the National Treasury’s intention to diversify its funding and
investor base.
“There is a great interest in the SUKUK market and this is the first step towards meeting the
growing appetite for government backed Shariah compliant investments” said Lungisa Fuzile,
Director General of the National Treasury.
Interested service providers are expected to submit proposals by close of business (RSA time)
on or before 21st December 2011. Shortlisted bidders will be informed by 20th January 2012.
ENDS

Further Information:

Request for Proposal (RFP):
http://www.treasury.gov.za/comm_media/press/2011/RFP%20-%20TOR%20Islamic...

Annexure to RFP:
http://www.treasury.gov.za/comm_media/press/2011/Annexure%20A%20-%20Suku...

ALBARAKA Bank in South Africa was keen to list on the Johannesburg Stock Exchange, JSE, and would probably do so by the end of next year, Adnan Ahmed Yousif, the chairman said.

Al Baraka Banking Group (ABG), the parent company, is listed in Jordan, Bahrain, Egypt and Sudan.

Albaraka Bank, SA's only Islamic financial institution, passed the R2bn asset level. This compares with only R400 000 in 1999 when it was formed. CEO Shabir Chohan said that it had taken the bank 15 years to achieve assets of R1bn and then another five years to reach the current level.

Chohan said that although Muslims represented only 2% of the population of SA, he believed there were opportunities for other players in the market that could offer greater convenience and more branches.