SUKUK PIPELINE - Issue plans around the world, including M'sia Monday

There are several sukuk issuances in the pipeline, among others the following: The Malaysian government will raise 2.6 billion ringgit ($797 million) via Islamic bonds on April 7 to finance new and existing housing loans held by government servants. The Tunisian government plans to issue sukuk worth "a few hundred million dollars" this year. Maybank Islamic will set up a 10 billion ringgit subordinated sukuk programme. Bahrain-based Gulf Finance House plans to issue convertible sukuk worth up to $500 million to restructure liabilities, develop projects and fund possible acquisitions, subject to shareholder and regulatory approval. A proposed bill in Luxembourg would allow securitisation of three properties for a sovereign sukuk issue worth 200 million euros ($275 million).