Bahrain-based Al Baraka Banking Group said it is considering issuing subordinated Shariah-compliant bonds through its South African and Pakistani units.

The South African issue is obviously more significant from a geopolitical standpoint since Pakistan is already an Islamic nation with a mature system of Shariah finance. South Africa, on the other hand, is not an Islamic nation, not by a long shot, and the country is a missionary target for Shariah finance.

South Africa’s government is also expected to launch a sovereign Shariah bond (sukuk) some time this year.



Tagged with:

Comments are closed.

Looking for something?

Use the form below to search the site:

Still not finding what you're looking for? Drop a comment on a post or contact us so we can take care of it!