The Bahrain Monetary Agency (BMA) will launch road shows on Wednesday for its first international 250-million-dollar, five-year Islamic leasing bond issue, the agency announced on Monday.
The bond is the ninth launched by the BMA, bringing to a total of 1.03 billion dollars the value of Islamic leasing bonds issued in the tiny Gulf Arab kingdom.
Citi Islamic Investment Bank, local subsidiary of US-based Citicorp, is the arranger and structuring advisor for the issue, beginning February 25 and covering the six-member Gulf Co-operation Council (GCC) and Malaysia.
The issue will be endorsed by the Manama-based International Islamic Financial Market (IIFM) and listed on the Bahrain Stock Exchange and the Luxembourg Stock Exchange.
"The international market for Islamic financial instruments has developed and matured considerably in recent years and we are seeing an increasing appetite for such instruments," said Waleed Rashdan, BMA's executive director for banking operations.
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