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Tuesday, 13 January 2015

Tunisia to delay Sukuk issue until third quarter of 2015

TUNIS, Jan 12 ( Reuters ) - Tunisia will delay its planned issue of $500 million in Islamic bonds until the third quarter of the year to allow parliament time to amend a law concerning the sale, Finance Minister Hakim Ben Hamouda said on Monday.
Tunisia had initially said it would issue the Sukuk by the end of last year.
"Tunisia is putting back its issue of the sukuk to the third quarter from July. Parliament needs to rectify the sukuk law," the minister told a conference.
He did not give further details. Tunisia passed a law allowing Islamic bonds in 2013 and hoped to potentially attract large amounts of Islamic-oriented funds from the wealthy Gulf.

(Zawya / 12 January 2015)
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