Kazakhstan to revisit U.S.$500 million sovereign sukuk

Kazakhstan will revisit a plan this year to issue debut sovereign Islamic bonds worth U.S.$500 million.
It will create a benchmark for corporate lenders because its aim is to build an Islamic finance sector among its majority Muslim population.
Central Asia's largest economy also plans to attract up to US$10 billion in Islamic finance in the next five to seven years, officials said yesterday, as a alternative means of financing an ambitious industrial growth programme.

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