Source: Thomson Reuters
KUALA LUMPUR, July 20 (Reuters) - Malaysia's central bank said on Monday it will issue 500 million ringgit ($141 million) of three-month murabaha bills on July 28.
Under a murabaha deal, an Islamic bank buys an asset from a third party and sells it to its customer at cost plus profit. This allows the bank to extend financing without charging interest, which is forbidden by Islamic law.
Yahoo! BuzzFor further details of the sale, please go to the central bank's website at https://fast.bnm.gov.my/fastweb/public/MainPage.do?mode=MAIN
($1=3.547 Malaysian Ringgit)
(Click on for more Islamic finance stories and for a speed guide) (Reporting by Liau Y-Sing; Editing) ((y-sing.liau@thomsonreuters.com; Reuters Messaging: y-sing.liau.reuters.com@reuters.net; +603 2333 8083)) Keywords: MALAYSIA SUKUK/
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