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The Kingdom of Saudi Arabia issued over the last months a multi-billion straight bond in US dollars and a sukuk program. a. Describe and contrast straight bonds and sukuk . b. What condition must be met by an investment to be Shariah compliant . c. Discuss why the Kingdom decided to use both investment vehicles .
B) The Federal Government of Nigeria has just announced a sukuk program to finance its roads.
a. What condition must be met by an investment to be Shariah compliant.
b. What structural difference exist between a straight bond and a sukuk. Give one example of sukuk structure (it doesn’t have to be the one used by Nigeria).
c. Discuss why an African country chose to issue a sukuk instead of a straight bond.