The Central Bank of Bahrain (CBB) has said its monthly issue of short-term Islamic leasing bonds, Sukuk Al-Ijara, has been oversubscribed 315 per cent.

The subscriptions worth BD63 million ($166.1 million) were received for the BD20 million issue, which carries a maturity of 182 days, said the statement.

The expected return on the issue, which begins on August 14 and matures on February 12 next year, is 0.77 per cent compared to 0.8 per cent for the previous issue on July 17, it said..

The Sukuk Al-Ijara are issued by the CBB on behalf of the Government of Bahrain, it added. - TradeArabia News Service