Development Bank of Kazakhstan has lately decided to swap their 240 million-ringgit sukuk (five-year murabaha Islamic note) to U.S. dollars. The Astana-based bank already sold debt denominated in the Malaysian currency in July of this year, in order to…
The Development Bank of Kazakhstan issued the first sukuk in the former Soviet Union worth $75 million. It is expexted that this sukuk will soon be followed by a number of new issues in the country. The issued bond will generates an annual payment of 5…
For the first time, the Development Bank of Kazakhstan has launched an Islamic bond. This issue may result in setting a benchmark for Kazakh sukuk and lay the path for future placement of corporate Islamic bonds. The paper is worth MYR240m ($76.6m) and…
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