Citigroup Inc. is looking to expand its Islamic bond sales, with an issue for a Turkish bank. The new decision to boost the sales of Sukuk, the so-called ‘Islamic bonds’, was made after issuing $100 million for Kuveyt Turk Katilim Bankasi AS.

Hulusi Horozoglu, director of global Islamic banking at Citigroup said in an email statement that “We believe there is significant appetite for sukuk issuances, both on the issuer and investor sides, and we would expect to see greater volumes going forward. A key driver for this market will be the growth in Islamic banking at the retail level, which has shown tremendous growth over the preceding few years.”


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