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Shamil Bank of Bahrain raised
360 million Saudi Riyal investment capital through the Al Ehsa Special
Realty Mudaraba, representing an investment participation in a land
development transaction with a real estate development company in the
Kingdom of Saudi Arabia. The investment objective of the Mudaraba is to
provide investors with annual returns arising from participation in the
funding of a land financing transaction Profits due to investors will be
accrued on the basis of returns attained from investing the subscriptions.
Remark: Sukuk has developed
as one of the most significant mechanisms for raising finance in the
international capital markets through Islamically acceptable structures.
Multinational corporations, sovereign bodies, state corporations and
financial institutions use international sukuk issuance as an alternative to
syndicated financing.
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