Bloomberg taps into Malaysian foreign currency sukuk market

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Bloomberg has launched a Malaysian foreign currency sukuk index to give investment managers a global benchmark for the performance of sukuk bonds and the ability to track movements of foreign currency issues, it announced on June 8.

Sukuk bonds differ from interest-bearing bonds in that they must comply with sharia law that prohibits the charging or payment of interest.

Bloomberg’s new index, developed in conjunction with Malaysia’s central bank, Bank Negara Malaysia, consists of foreign currenc