Bond Markets & Exchanges News
Purchases from investors ranged from Sh3,000 to Sh1.13 million, indicating that the sales were dominated by big buyers
The downward review is due to the recent cabinet reshuffle.
The bond can be bought via mobile phones and offers a higher interest rate than offered by commercial banks.
The MoU will promote Islamic capital markets products and initiatives.
The bond is expected to be issued by June 2017 and mature for a period of five to seven years.
The fund will be used to finance new projects in member nations.
The debut Islamic bonds will enhance participative banking in Morocco
Islamic finance could benefit from an 80 million-strong untapped market of unbanked Muslims.
The government wants to finance its economic reforms.
The WBI was launched on December 14th.