Manama, Bahrain — The Central Bank of Bahrain (CBB) announced that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al Ijara, has been oversubscribed by 403 percent.
Subscriptions worth BD 104.778 million ($277 million) were received for the BD 26 million issue, which carries a maturity of 182 days.
The expected return on the issue, which begins on May 4 and matures on November 2, is 6.05 percent compared to 6 of the previous issue on April 6.
The Sukuk Al Ijara are issued by the CBB on behalf of the government of the kingdom of Bahrain. This is issue No.213 of the short-term Sukuk Al Ijara series.
The bank issued treasury bills with a maturity period of 12 months on March 23. The weighted average rate of interest is 6.17 percent compared to 6.31 percent of the previous issue on 23 February 2023, the bank said in a statement.
The approximate average price for the issue was 94.126 percent with the lowest accepted price being 94.056 percent.
By March 23, the total outstanding value of government treasury bills reached BD2 billion ($5.3 billion).