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Yemen plans to sell $232m Islamic bonds in April

21 March 2012

Yemeni central bank governor, Mohamed Awad Bin Humam has said the country plans to sell $232m of Islamic bonds early April to finance government projects, Times of Oman has reported. The central bank plans to target Islamic lenders in the country, and may offer a profit rate of "little less" than 20%, Bin Humam said. Yemen sold four billion rials of Islamic bonds in February 2011 to local banks.

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