Sukuk Bond: What It Is, How It Works, and Why It’s Important for Kenya’s Housing Sector
The Capital Markets Authority (CMA) has approved the issuance of the country’s first-ever Sukuk Bond by Linzi Finco Trust. The Sukuk targets raising KSh 3 Bn and proceeds from the bond will be used to develop over 3,000 institutional housing units. The Sukuk will offer an internal return of 11.13%.