DUBAI: State-owned Islamic Bank of Thailand plans to increase its capital by 7.11 billion baht (US$234.9mil) and issue a 5 billion baht sukuk, the country’s first-ever Islamic bond, the bank said yesterday.
The bank said it hoped this strategy would help it to return to profit this year and help the country’s Islamic financial sector grow after tax legislation necessary for its expansion was passed in May 2011.
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