Friday, August 17, 2007

Islamic Finance Experts Group, Takaful & sukuk

The group meeting to assess the feasibility of the U.K. government issuing a sovereign sukuk had its first meeting and the members of the group were announced.

Takaful Malaysia Bhd is planning to expand into the Middle East working with an unnamed financial firm in Dubai.

The government of Brunei issued new short-term sukuk, something which it began doing in April 2006 to raise its profile in the global Islamic finance industry.

1 comment:

russ said...

I would like to pose a question on what type of sukuk is suitable for financing urban redevelopment projects. Let's say the project area is not a greefield site and is inhabited and thus, the urban renewal agency has to acquire properties from the existing residents in order to assemble the project site. Can the acquisition costs for this site assembly (which could take around 2 years) be achieved through Sukuk, and if so, which type? Murabaha? Ijara?

Opinions on this will be most appreciated!