Islamic Sukuk securities will be produced in Kyrgyzstan

Almaty. August 15. Silkroadnews - Kyrgyzstan will start production of Muslim securities, reports KyrTAG.
"Over the last 2 years the money market of the country's market share of securities has doubled and reached 10%. There are new types of securities: mortgage-backed securities, housing certificate. We are working on the issue of Muslim securities - sukuk. They will be used by enterprises and companies",- said the chairman of the civil service regulation and supervision of financial market Yuruslan Toychubekov on Friday.
According to him, the principle of Sukuk is that they do not earn interest, they only share the profit. Sukuk are very beneficial for KR, as they are cheap, and foreign investors will come with very good money.
"In developed countries, the share of securities reaches 60%, as each company produces them. Our market is just developing", - he said.
Date of first issue of sukuk is not yet known.