IslamicFinance.de

The National Bank of Abu Dhabi (NBAD) will launch an Islamic repurchase agreement product which it plans to go live with in two weeks, a bank executive told reporters on the sidelines of the Global Financial Market Islamic Forum.

The National Bank of Abu Dhabi (NBAD) has successfully issued its second ever Sukuk (Islamic bonds) in Malaysia. The bond issue was for 500 million ringgit and was issued under NBAD’s MYR Medium Term Notes (MTN) 3 billion programme. The transaction has a strong distribution across a wide investor base with a breakdown of fund managers 33%, insurance companies 27%, financial institutions 10%, and other corporations 30%.