Treasury puts Islamic bond issue on ice

Traders check out the trading index during the Bell Ringing ceremony for KENGEN to trade at the NSE at the NSE's offices in Westlands,Nairobi. Photo/Elvis Ogina (Nairobi) July 6th,2016.

Kenya’s plan to issue its first Islamic bond, also known as Sukuk bond, may not happen in the current financial year after all.

National Treasury Cabinet Secretary Henry Rotich said despite President Uhuru Kenyatta assenting to the 2017/18 Finance Bill recently, paving way for the issuance of the debut bond, a lot more needs to be done before it is actualised.