SUKUK or Islamic bonds can be used to finance infrastructure projects and develop small and medium enterprises around the globe, the World Bank said in its latest report.
In its report entitled Global Financial Development Report 2015-2016: Long-term Financing issued over the weekend, the Washington-based lender said the recent growth of Islamic finance, which is based on the principles of risk sharing and participatory finance, has developed sukuk’s potential as an alternative long-term financing tool.
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