Tuesday 19 January 2016

January sukuk issuances by the Central Bank of Bahrain oversubscribed to date

The Central Bank of Bahrain (CBB) has announced that the monthly issue of the Sukuk Al-Salam Islamic securities for the BD43 million issue, issue no. 177, has been oversubscribed by 154%.

The expected return on the issue, which begins on 20 January 2016 and matures on 20 April 2016, a maturity of 91 days, is 1.9% compared to 1.75% for the previous issue on 23 December 2015.

The CBB earlier announced that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, issue No. 125, have been oversubscribed by 185%.

Subscriptions worth BD48 million were received for the BD26 million issue, which carries a maturity of 182 days. The expected return on the issue, which begins on 14 January 2016 and matures on 14 July 2016, is 2% compared to 1.8% for the previous issue on 17 December 2015.

Both Sukuk Al-Salam and Sukuk Al-Ijara are issued by the CBB on behalf of the government of the Kingdom of Bahrain.