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Source: Thomson Reuters.   Last updated on Feb 23, 2019 at 02:10AM (UTC).   Delayed by at least 15 minutes.
Commencement of Trading the Government Islamic Sukuk Ijara at Bahrain Bourse
Feb 03, 2015
Bahrain Bourse announced on today, Tuesday, 3rd February 2015 the listing of the Government Islamic Lease Securities (Sukuk) that has been issued by the CBB on behalf of the Government of Bahrain through registered brokers at Bahrain Bourse as of today. The Sukuk will be traded under the symbol GILS22.SUK.

The BD250 million securities issued at a par value of BD1 each on 19th January 2015 for a period of 10 years ending on 19th January 2025. The returns (rent) on these securities will be paid every six months on 19th January and 19th July every year throughout the period of this issue. The annual rate of return will be 5.50%.

As of today, investors will be able to sell and buy Sukuk by placing their orders through the brokers who will feed them into the trading system. The system will automatically match the orders in accordance to the price priority then time priority.

Following the listing of this issue, the number of conventional bonds and sukuk issues listed on BHB reached 10 issues with an approximate total value of US$ 3.335 billion.

It's worth to mention that Bahrain Bourse has issued on 1st February 2015 the Guidelines on Trading Debt Instruments on Bahrain Bourse. The Guidelines organize trading the debt instruments in the secondary market in the Bourse during trading sessions that start daily from 9:30 am until 1:00 pm from Sunday to Thursday. The guidelines also clarify the types of orders, board lots and the tick size applied in the debt market. The guidelines also present the pricing mechanism in the debt market which shows the seller investor will receive the full amount of the transaction which includes the Sukuk value plus the coupon which will be automatically calculated by the system.

All transactions on Sukuk will be settled within two business days of the completion of the deal (T+2).

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