Gulf Investment, Saudi International, GE: Islamic Bond Alert - BusinessWeek

The following borrowers are expected to sell Islamic bonds, which use asset returns to pay investors to comply with the religion’s ban on interest.

Global sales of sukuk fell 24 percent to $15.3 billion so far this year from the same period in 2009, according to data compiled by Bloomberg. Issuance totaled $20.2 billion last year, up from $14.1 billion in 2008.

GULF INVESTMENT CORP.: The Kuwait-based financial institution will set up a 3.5 billion ringgit ($1.1 billion) Islamic fund-raising program, or sukuk, in Malaysia in January, Reuters reported, citing a person it didn’t identify.

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