Goldman Sachs» plans to launch Islamic bonds for the first time with 500 million dollars

[yota691]

Goldman Sachs» plans to launch Islamic bonds for the first time with 500 million dollars

 

 

 

 

Date Published: Saturday, September 6th, 2014

Bank of America's investment plans «Goldman Sachs» start providing a new service represented in Islamic investment instruments, compatible with Islamic law, which does not include the profits of usury.

The newspaper «Financial Times» yesterday, that the instruments will continue for more than five years, and sizes up to 500 million dollars.

The newspaper added that the representatives of the bank will meet with investors from the UAE and Qatar to discuss this matter.

 

 

And tried to Goldman Sachs before three years ago, that falls within the Islamic investment instruments transactions to no avail, because the Muslim scholars and directed criticism at the time of the investment bank's structure.

 

The newspaper said the American, the drawbacks that existed Stnhy now set aside by the bank.

The bank HSBC, the British bank's first big international feet in 2011, the first instruments that are consistent with Islamic law.

The market has flourished this type of bonds in recent years, but it fell significantly in 2013.

 

[yota691]

 

 

Goldman Sachs called the instruments half billion

Goldman Sachs

 

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Tuesday, September 16th, 2014 - 16:23 GMT Abu Dhabi 

Abu Dhabi - Sky News Arabia

Goldman Sachs launched Islamic bonds worth 500 million dollars for five years, his first, is scheduled for release in pricing and later at the minimum range of the pilot.

The document said that the version of my salary Investment Bank will determine the price at around 90 basis points above the average of interest rates swap fixed and variable, ie, when the minimum scale pilot average between 90 and 95 basis points.

The preliminary indicative price was 95 basis points, the document showed that the subscription orders amounted to 1.5 billion dollars.

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