IslamicFinance.de

The Cabinet has recently allowed Al Rajhi Group to issue Islamic Sukkuk (bonds) to expand its investments in the Kingdom. The government requested the group to coordinate with the Iftaa Department and to sell the bonds to local banks in order to obtain the approval.
Al Rajhi group has previously asked the government to work on procedures for issuing Islamic sukuk in order to be able to finance the establishment of two factories for manufacturing glass and steel on the basis of Islamic Shari? principles.