Tuesday, March 13, 2007

Warehouse receipt finance & Saudi Electric sukuk

Commodity trade finance

The collateral management services manager Jeyaharan Thurairatnarasah of C&P Asia Sdn Bhd said Islamic banks in Malaysia can use warehouse receipt finance. "Jeyaharan said Islamic banks can introduce warehouse receipt financing as commodity finance is possible within Islamic banking structures and is not against syariah principle." Warehouse receipt finance is valuable for companies with large commodity inventories. The firm pledges the warehoused commodities as collateral for the loan.

Saudi Electric to issue sukuk

Saudi Electric Co. plans to issue up to $2.9 billion in sukuk over the next 15 years.

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