Bank of Baghdad

	Al Baraka Islamic launches $200m sukuk	18-May-2013
	Bahrain-based Al Baraka Islamic Bank is raising $200m through trust certificates in a Sukuk Al Wakala issue which will mature in 2015, Gulf Daily News has reported. The 18-month sukuk is aimed at raising cash to help increase the bank's exposure to Shariah-compliant trade finance which accounted for some $5bn of business for the bank last year. "The proceeds from the certificates will be used to invest, through the use of a wakala structure, in a Shariah-compliant trade finance arrangement or arrangements," a spokesman for the bank said.