Islamic Finance
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Germany's FWU issues rare asset-backed sukuk
FWU Group, a Munich-based financial services company, has issued a $20 million five-year Islamic bond backed by insurance policies, a small but rare example of an asset-backed sukuk from a European firm. FWU, which offers takaful (Islamic insurance) solutions, used a structure known as wakala. The sukuk is the first…
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Click here to read the full story: Reuters