The Central Bank of Bahrain (CBB) has developed a Murabaha Sukuk Service in collaboration with Bahrain Bourse.
The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…1018 | the publication reaches you by | Bahrain News
The Shari’ah compliant liquidity and borrowing tool is for clients and banks.
“providing such Shari’ah compliant product contributes to the diversification of Islamic transactions opportunities, improves the depth of debt market, and enhances the Kingdom’s position as a financial center for Islamic banking.”
Under this service, and through an electronic platform provided by Bahrain Bourse, the lending party purchases the sukuk from the Central Bank of Bahrain.
After having ownership of the sukuk the party sells it to the borrowing party as a deferred sale.
Narjes Farookh Jamal, Chief Operating Officer of Bahrain Bourse said,
“The launch of the Murabaha Sukuk service will enhance the diversification of services offered by Bahrain Bourse by providing new Shariah-compliant financing solutions. Emphasizing that Bahrain Bourse is continuously working on developing the investment environment by providing alternative investment options to meet the requirements of a wider range of institutional and individual investors.
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