|
|
Article: Tharawat to raise $100m for sukuk fund.
- Article from:
- TradeArabia (Manama, Bahrain)
- Article date:
- September 8, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Manama
Bahrain-based Islamic investment house Tharawat said it plans to raise $100 million by year-end for a sukuk fund it recently launched to snatch up bargains on the secondary market.
Tharawat chief executive Arif Moh'd Al Alawi also told Reuters on Monday that Tharawat expected to raise $200 million for the open-ended fund targeting individuals and institutional investors over the next two years.
Sukuks have typicallly been bought up and held until maturity by banks, preventing individual investors from accessing that market.
The market was badly hit by the global liquidity freeze last year, but a number of sovereigns and ...