Bahrain: Al Baraka Islamic Bank and the Bahrain Bourse Sign Agreement for Sukuk Trading

Al Baraka Islamic Bank – Bahrain (ABIB), a part of the Al Baraka Banking Group based in Manama, Bahrain, has signed an agreement with the Bahrain Bourse (BHB), which allows ABIB to buy and sell Shariah-compliant Ijara Sukuk through the BHB.

According to media reports, this agreement will help facilitate ABIB’s financing operations for its underlying clients and aims to diversity commodities available for commodity-based Murabahah transactions to include government-based Sukuk issued by the Central Bank of Bahrain. In addition, the financing facility will help reduce processing times for ABIB, and will play an increasing role in positioning Bahrain as a hub for Shariah-compliant financing.

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