Luxembourg Finance Minister Says More Sukuk Can Be Issued

DUBAI, Oct 27 – Luxembourg is interested in the thought of making more sovereign sukuk issues in the wake of leading its first such issue toward the end of a month ago, Luxembourg money priest Pierre Gramegna said on Monday.

In a meeting with Reuters while going to Dubai for an Islamic fund gathering, Gramegna said, be that as it may, that there were no prompt plans or timeline for extra issues.

Luxembourg’s introduction issue was 200 million euros ($254 million) in size and had a five-year development. It utilized an ijara structure, a lease-based transaction that is regular in Islamic account.

Gramegna said Luxembourg was investigating structures other than ijara to maintain a strategic distance from the trouble of discovering physical advantages for back sukuk.

He said the 200 million euro size of the introduction issue was “beneficial for us” yet included that littler issues may be conceivable also, as they could engage organizations. (Reporting by Bernardo Vizcaino; Composing by Andrew Torchia)