KFH plans issuing $500 million in Sukuk by end of year
Kuwait Finance House (KFH) CEO and Chairman of KFH-Turkey Mohammed Al-Omar said that this will provide Turkish companies with new instruments required by Turkish companies to finance their internal and external expansion. He explained that KFH-Turkey plans to issue Sukuk worth $500 million by the end of the year. He noted that the law is a significant step forward that reveals a great desire by many Turkish companies that have good assets but lack the suitable financing to expand locally and overseas to benefit from this new financing instrument; especially after those companies realised the numerous benefits of Sukuk, which include providing financing through Sukuk while neither hindering projects nor exhausting their budgets. Sukuk are mainly rated by rating agencies, and can be enlisted in any of the major global bourses.