The Central Bank of Bahrain (CBB) has announced that the monthly issue of its short-term Islamic leasing bond, Sukuk Al Ijara, has been oversubscribed by 420 per cent.

Subscriptions worth BD21 million were received for the BD5 million issue, which carries a maturity of 182 days.

The expected return on the issue, which begins on Thursday and matures on December 27, is 5.10 per cent.

The sukuk are issued by the CBB on behalf of the Government of Bahrain.

This is issue number 22 of the Sukuk Al Ijara Islamic leasing sukuk.