The following borrowers plan to offer sukuk, which pay returns on assets to comply with Islam’s ban on interest. Global sales reached $9.6 billion this year compared with $8.6 billion in the same period of 2013, data compiled by Bloomberg show.
The Islamic Development Bank disbursed 18 billion CFA francs ($37 million) to Mali for water supplies in the capital, Bamako, and a feasibility study for a road, L’Essor reported, without saying where it got the information.
The Saudi Arabian-based Islamic Development Bank plans to start a $500 million fund to provide financing for developers of affordable houses in Muslim countries, an executive at the bank said in an interview.
The U.K. has chosen HSBC Holdings Plc to arrange and advise on its debut Islamic bond planned for as early as this year in an effort to become the first non- Muslim nation to sell the debt, a Treasury official said.
The Bill & Melinda Gates Foundation signed an agreement with the Islamic Development Bank for a program to fight contagious diseases and provide food security in several countries, the Saudi Press Agency reported.