Thursday 11, October 2018 by Kudakwashe

Al Baraka Turk issues TRL 250 Million domestic Sukuk

 

The demand for the certificates which had a maturity of 98 days was 1.68 times oversubscribed and the issuance closed at TRL 250 million.

Al Baraka Turk, a subsidiary banking unit of Al Baraka Group (ABG) announced that it has finalised the issuance of a TRL 250 million Sukuk.

In a statement, the lender stated that the recent issue brings the total amount of outstanding domestic Sukuk issuances of the bank to TRL 1.2 billion and total issuances in 2018 to TRL 2.1 billion.

Malek Temsah, Al Baraka Turk’s Assistant General Manager of Treasury, said, “With these competitively priced and liquid instruments increasingly playing an important role in mobilising funds for our sector, our emphasis will continue to be on providing our investors with a diverse range of investment products that meet their requirements.”

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