Islamic first for SingaporeÆs bond market

For the first time, bonds structured under Islamic concepts have been sold in Singapore.

Nick Lord

June 18, 2001

In a further sign of the growing diversity of Singapore’s bond market, UOB Asia has brought the first Islamic bonds to market. An S$25 million issue for the Islamic Religious Council of Singapore (Muis) is the first time that bonds structured under Islamic concepts have been sold or structured in the city-state.

While the issue size is small, it certainly brings a new dimension to the market and is an interesting departure for the Singaporean financial world.

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