The five-year bond issue, which was closed for subscription end of June 2004, matures on 30th June 2009 enables certificate holders to receive return equivalent to 0.45% over LIBOR twice a year at the end of June and December. The issue has been rated “ A- “ by Standard & Poors rating services. Citigroup has been appointed as the issue's lead manager.

H.E. Khalid Al Bassam, Deputy Governor of BMA, and Deputy Chairman of Bahrain Stock Exchange, said that: “This issue will also be listed on both Luxemburg Stock Exchange and Labuan Stock Exchange ( Malaysia ) in addition to the Bahrain Stock Exchange in order to emphasize the commitment of the BMA and its leading role to support the Islamic Financial Market on both local and international levels.”. His Excellency went on to state that the BMA will also encourage institutions to benefit from those instruments in financing their current and future expansion plans.

Having this issue listed in BSE, the number of Islamic sukuk and conventional bonds listed in the Exchange now reached 18 issues with a total value in excess of US$ 2.7 billion.