Njuguna Ndung’u, governor of the Central Bank of Kenya has announced that the bank will be introducing new regulations by the end of the year to eliminate the tax barriers that have prevented the issue of Shari’ah compliant treasury bonds.
Ndung’u said that the CBK had received requests for projects that would require financing through the Islamic bonds, or Sukuk and had to act to equalize the tax treatment of conventional and Shariah compliant debt.
http://www.zawya.com/story.cfm/sidZAWYA20110310085006/Investors-Await-Launch-of-Kenya’s-First-Sukuk
