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FINANCIAL NEWS
Palestine will probably sell first Islamic bonds in Dec
15 Sep 2011
(MENAFN) Palestine Monetary Authority’s governor, Jihad Al Wazir, said that in order to boost the country’s economy, in December, the central bank might sell its first Islamic bonds (Sukuk), reported Gulf News.
Al Wazir added that the central bank had plans to raise USD50 million in a private placement to local banks and that the bonds might mature in three years.
He also said that the Palestinian Authority relied heavily on foreign aid to support West Bank and Gaza Strip’s economy, which the International Monetary Fund (IMF) predicted to grow 7 percent this year.
It is worth noting that according to the World Bank, the Palestinian Authority’s substantial progress in increasing its institutions is being endangered by aid delays and the Israeli security restrains, whereas the dependence on aid cuts confidence that the region can become economically viable.
More News
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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