Housing Development Finance Corporation (HDFC) has begun selling Sukuk bonds worth about 13 million US dollars.
This is the fourth time HDFC opened to sell bonds. HDFC said its fourth Mudarabah Sukuk Issue opened on August 22, which offers 200,000 Sukuks with a face value of USD 64.75 per Sukuk, at the total value of about USD 13 million.
HDFC revealed a semi-annual profit share ratio of 65% will be distributed to the Sukuk holders and 35% will be kept by the corporation.
Sukuk profit will be deposited to Sukuk holders every six months for a period of 10 years from allotment via Maldives Security Depository.
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