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FINANCIAL NEWS
Saudi to issue Islamic bonds to fund airport projects
01 Jan 2013
Saudi Finance Minister Ibrahim Alassaf said the government is eying bond issuance in order to fund construction at airports in Riyadh and Jeddah, reported Saudi Gazette.
This comes to confirm a previous statement for the General Authority for Civil Aviation (GACA) which had announced plans for an Islamic bond issuance, at the end of 2012 to help fund its airport in Jeddah.
It is worth mentioning that the country had taken upon itself multi billion infrastructure projects. The government had suffered from criticism over lack of proper infrastructure that was especially exposed at the times of bad weather and flood in the country.
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BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
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