The Central Bank of Bahrain (CBB) has announced that the ninth issue of the $250 million International Islamic Leasing Sukuk has matured and been fully settled on June 30.

It was issued on June 30, 2004 on behalf of the government of Bahrain.

The CBB has recently launched a successful $750 million Islamic sukuk denominated in US dollar; the first sovereign Islamic sukuk issued in the region this year.

The issue was eight-times oversubscribed, and as a result, the original issue size was increased to $750 million from a $500 million target.

The CBB manages the issuance of Sharia-compliant sukuks with different tenors in order to provide Sharia-compliant products that would support the Islamic financial industry, in addition to the issuance of other conventional bonds.

The Salam sukuk are issued on monthly basis for a three-month tenor, whereas the short-term Ijarah sukuk are issued every month for a six-month tenor.

The CBB also issues weekly treasury bills for a three-month tenor and monthly treasury bills for a six-month tenor. – TradeArabia News Service