Islamic bonds

KUALA LUMPUR, Oct 7: Turkey plans to sell $400 million to $500 million of Islamic five-year bonds by the end of the year, joining a growing trend among Muslim nations to seek finance in ways that conform with religious beliefs. Industry sources in Kuala Lumpur, a hub for Islamic banking and finance, told Reuters on Tuesday that Turkey had mandated HSBC and top Malaysian merchant bank CIMB Bhd to arrange the offering.

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