Dheerasak Suwannayos

Islamic Bank to sell Bt5-billion domestic bond

The Islamic Bank of Thailand is going to sell Bt5 billion of domestic sukuk and US$150 million of global sukuk. The statement was given by Dheerasak Suwannayos, the bank's president.
He added that the Shariah-compliant bonds, which will be denominated in the Thai baht, will probably be sold in third quarter of this year and the global issue will follow.

Cagamas looks at up to RM2bil new Islamic notes

Cagamas Bhd, the national mortgage corporation, will look at issuing up to RM2bil in new Islamic medium term notes, said chief executive officer Steven Choy.
A business daily reported recently that Cagamas was expected to issue another landmark sukuk after the success of its benchmark Sukuk Al-Amanah Li Al-Istithmar (Sukuk ALIm) in July.
During the panel discussionon Islamic Finance Developments and Expansions in Asia, Choy said Cagamas experienced its fair share of challenges in the secondary market for its mortgage loan deals.
Islam Bank of Thailand president Dheerasak Suwannayos added that political will was needed to back the acceptance of Islamic finance in a country.
Businesses among the Muslim community were predominantly family-owned, hence the hesitation in letting strangers into the businesses.

Islamic Bank to float B55bn in bonds

The Islamic Bank of Thailand plans to float 55 billion baht worth of Islamic bonds in the local and overseas markets this year, says bank president Dheerasak Suwannayos. He said the bank hoped to raise 5 billion baht from a local Islamic bond issue in the second quarter, the first issued in the Thai market.

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