Bahrain on Monday offered the first Islamic government bills, worth $25 million, to meet the short-term liquidity needs of Islamic banks and financial houses, the Bahrain Monetary Agency (BMA) said.
Bahrain-based commercial banks and Islamic institutions are eligible to buy the three-month papers, called Sukuk Al-Salaam Securities, said the BMA in a statement, cited by the Gulf Daily News.
The statement said that the securities, to be issued Tuesday, carry an annual fixed return of 3.95 percent – Albawaba.com
