Sukuk
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Metro
N1.15trn FCT budget to transform Abuja, rural areas – Wike
The Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike, says the N1.15 trillion 2024 proposed FCT Statutory Budget was designed to transform the capital city and rural communities. Wike stated this when he appeared before the Senate and House Committees on FCT to defend the proposed statutory budget in Abuja on Monday. He explained that out of the…
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NEWS
Nigeria begins sale of N150bn sovereign Sukuk
The Federal Government on Thursday began the sale of its third tranche 7-year N150 billion Sovereign Sukuk, the Debt Management Office (DMO) said. The offer circular, which was obtained from its website, said the seven year Islamic Sukuk, referred to as Ijarah, was at a rental rate of 11.2 per cent and would be due in June 2027. The bond,…
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Africa
South Africa’s debut sukuk to be at least $500 million
The South African government plans to raise at least $500 million in its first issue of Islamic bonds, a Treasury official indicated on Thursday. “South Africa is looking to issue a benchmark-size sukuk and the tenor will be in line with other sukuk transactions in the market,” Tshepiso Moahloli, director of debt issuance and management, told Reuters. Traditionally, benchmark size…
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