Bahrain's government has listed $100 million in leasing securities on the Bahrain Stock Exchange (BSE), according to an official source.
Khalid Al Bassam, executive director for banking operations said that the "[Bahrain Monetary Agency] issued, on behalf of the Bahraini government, these securities to the value of $100 million to provide for various infrastructure projects."
Bassam was quoted by the Bahrain Tribune as saying that the securities had five-year maturities starting from September 4, 2001, and maturing on September 4, 2006.
He added that the average annual lease return was 5.52 percent paid semi-annually, with the first payment being on March 4, 2002 and the last on full maturity.
Ali Thamer, acting director of the BSE, said that “listing these securities comes as a result of the continuous coordination and cooperation between BSE and BMA in developing the financial sector and the capital market.
"This also comes in line with efforts for establishing the International Islamic Financial Market (IIFM), which BMA is working to establish in Bahrain in conjunction with several banks, including Islamic Development Bank, and other central banks" – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
