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The deal is one of the largest Islamic finance transactions that involve hotel assets.
In February, Indonesia became the first Asian country to sell “green” bonds internationally in a $1.25 billion deal.
Its cryptocurrency product, dubbed GOLDX, was launched at the end of last year.
The blockchain venture would tap into a vast but underutilised pool of assets across the Muslim world.
Leading the way for new funding options for local firms
Italian money manager Azimut Holding SpA will jointly manage its Islamic bonds fund with Maybank Asset Management Group to cater to growing demand for hard currency sukuk products, the two firms said on Tuesday. The partnership will allow the fund to penetrate new markets including Malaysia and Singapore, where Maybank… Read more »
Governments across Asia are increasingly viewing sukuk as a viable funding option, with Hong Kong open to tap the market for a third time while Sri Lanka and the Maldives consider debuts. The Philippines’ incoming finance minister is looking at raising debt via sukuk and yuan borrowings to diversify its debt profile, but has yet to firm up plans.
Australia has begun to see a steady stream of property deals using Islamic financing as the attraction of low-risk tenants and a weak Australian dollar offset concerns about the lack of a welcoming tax environment for such transactions. National Australia Bank Ltd, one of the most active banks in the sector,… Read more »