Japan may launch first sukuk by G7 country

In the previous post, a story referred to plans by the Japan Bank for International Cooperation (JBIC) to launch an Islamic bond (sukuk) in the near future. Stories from August and early September of this year in the Taipei Times and Asian Banker (August & September) suggest that the JBIC is looking at issuing sukuk valued at between $300 million and $500 million on the Malaysian exchange as early as January 2007. Malaysia accounts for roughtly 2/3rd of the global sukuk market.