The Dow Jones Citigroup Sukuk Index, which will be the first of its kind, is scheduled for official launch on April 2.
It is intended to be a benchmark for investors in sharia-compliant bonds, and its sponsors hope it will encourage greater secondary market activity û thus allowing increased cross-market trading.
Banks will be able to structure new products around the index to attract Muslim high net-worth individuals and retail investors to the growing Islamic debt market, which is currently worth about $300...
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