Australia¬†is on the road towards establishing a local Islamic bond market although the country’s first sukuk (Islamic bond) issuance may be several months away…

National Australia Bank is in talks with regulators on a potential debut Sharia-compliant bond offering as the issuer seeks to marry local regulations with such deals’ Islamic requirements.

Any sukuk must secure prior approval from Australian regulators, particularly the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investment Commission (ASIC).

http://www.reuters.com/article/2012/04/05/nab-sukuk-idUSL3E8F47L320120405

 

 

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