Bahrain, Poh Kong, Majid Al Futtaim, Anih: Islamic Bond Alert - Bloomberg

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 climbed to $18.9 billion in 2011, from $13.5 billion a year earlier, according to data compiled by Bloomberg.

BAHRAIN: The country is still “on track” to sell $1 billion of Shariah-compliant debt, Sheikh Salman bin Isa Al Khalifa, executive director of banking operations at Bahrain’s Central Bank, said in an e-mail. Central bank Governor Rasheed al-Maraj said in an interview in September that Citigroup Inc., BNP Paribas SA and Standard Chartered Plc have been hired to advise on the sale. He said the maturity of the sukuk may be between seven and 10 years.

POH KONG HOLDINGS BHD. (PKH): The Malaysian jewelry maker said it has been given approval by the Securities Commission to sell 150 million ringgit ($48.4 million) of Islamic debt, which will be backed by Danajamin Nasional Bhd., a state bond-guarantee agency, the company said in a Kuala Lumpur exchange filing.

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