Tunisian government to issue Islamic bonds in 2013

Nov 09, 2012

Islamic bonds are to be issued by the Tunisian government in 2013 as part of an effort to support public borrowing.

Islamic bonds are to be issued by the Tunisian government in 2013 as part of an effort to support public borrowing.

Speaking to state radio, finance minister Slim Besbes noted that the country's budget is set to go up from 25.4 billion dinars in 2011 to 26.6 billion dinars next year.

Much of this money will come from tax receipts and means the government is in a good position to be able to issue Islamic bonds worth one billion dollars in its upcoming budget.

This will be the first time the nation has adopted this approach.

The move will help to fund public borrowing and promote Islamic finance in the wake of the Arab Spring, which saw a wave of civil uprisings in country's such as Tunisia, Yemen, Libya and Egypt.ADNFCR-2976-ID-801485238-ADNFCR