Advanced Petrochemical’s OGA approves sukuk plan

16/09/2014 Argaam

The general assembly of the Advanced Petrochemical Company (Advanced) approved yesterday the company’s plan to issue Sharia-compliant bonds (sukuk) to meet its finance needs.

The general assembly authorized the board to issue a single sukuk or a series of issues as needed, on condition that the issues do no exceed the value of the company’s capital.

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