IslamicFinance.de

Citigroup plans to arrange more sales of Islamic bonds, or sukuk, from Turkey. Citigroup is having talks with other potential sellers of Shariah-compliant debt in the country, said Hulusi Horozoglu, director of global Islamic banking at Citigroup, in an e-mailed response to questions. Turkey’s government is considering selling sukuk “in the future,” Finance Minister Mehmet Simsek said in an interview.

The following borrowers are expected to sell Islamic bonds:

TURKEY: Citigroup Inc. plans to arrange more sales of Islamic bonds from Turkey after managing a $100 million issue for Kuveyt Turk Katilim Bankasi AS, said Hulusi Horozoglu, director of global Islamic banking at Citigroup.

PAKISTAN: The South Asian country plans to sell sukuk maturing in a year or less in the domestic market by the end of this month, according to an e-mailed statement from Syed Wasimuddin, a spokesman for State Bank of Pakistan, the nation’s central bank.

CAGAMAS BHD.: Malaysia’s national mortgage company plans to sell more Islamic bonds this month following a sale in August under its 5 billion ringgit ($1.6 billion) sukuk program, the Business Times reported, citing an unidentified person familiar with the proposal.

INDONESIA: plans to sell 2 trillion rupiah ($224 million) of Islamic bonds by private placement this year, said Rahmat Waluyanto, a director at the Ministry of Finance.