Islamic Bank of Thailand

Details of first Thai Islamic bond due in Q2 -bank

State-owned Islamic Bank of Thailand expects to finalise details of its long-delayed Islamic bond in the second quarter.
The planned sale of Islamic bonds worth 5 billion baht ($164 million) has been repeatedly delayed, pending regulations governing the issue of sukuk in Thailand.

Thai SEC to launch Islamic bond regulations in Oct

Thailand's Securities and Exchange Commission planned to implement its first regulations governing the issuance of sukuk, or Islamic bonds, in October, the head of the watchdog agency said on Wednesday. SEC Secretary-General Thirachai Phuvanatnaranubala told a debt market seminar that the long-awaited launch would be part of Thailand's moves to liberalise and expand its relatively small debt market. State-owned Islamic Bank of Thailand said in June it would be the first issuer of Thai sukuk with a planned offer of 5 billion baht of five- to seven-year Islamic bonds once regulations were in place. SEC chief Thirachai said his agency was in the process of drafting licensing rules for municipal authorities to issue and offer bonds to Thai investors. Thirachai said Thailand and other members of the Association of Southeast Asian Nations had made progress in working out details for licensing cross-border bond issues within ASEAN.

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