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Report: Kuveyt Türk issues Turkey's 1st consumer-price-indexed sukuk

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Report: Kuveyt Türk issues Turkey's 1st consumer-price-indexed sukuk

completed the issuance of Turkey's first consumer-price-indexed sukuk, AnadoluAgency reported April 25.

Thelender issued to qualified investors 10 million Turkish lira, with the sukukmaturing in 729 days.

"Withconsumer price indexed sukuks, which eliminates the possible risks of inflationon the return, we both expand our investor base and make it possible for investorsto invest with longer terms," the bank's general manager, Ufuk Uyan,reportedly said.

As of April 25, US$1 wasequivalent to 2.85 Turkish lira.