CRDB Bank has launched the Al Barakah Sukuk Islamic bond targeting TZS 30 billion and USD 5 million, with a green-shoe option to raise totals to TZS 40 billiob and USD 7 million. Proceeds will fund ethical projects in healthcare, halal agribusiness, education, and sustainable manufacturing.
CRDB Bank has launched the Al Barakah Sukuk, an Islamic bond compliant with Sharia principles, targeting TZS 30 billion and USD 5 million, with a green-shoe option that could increase the totals to TZS 40 billion and USD 7 million. The issuance, part of the bank’s five-year USD 300 million Medium-Term Note Programme approved by the Capital Markets and Securities Authority (CMSA), is intended to expand financial inclusion and mobilise capital for ethical and sustainable projects in Tanzania and the wider East African region.
It is open to retail investors, institutions, the Tanzanian diaspora, and foreign investors, with a minimum subscription of TZS 500,000 or USD 1,000. Subscriptions close on September 12, 2025, after which the Sukuk will be listed on the Dar es Salaam Stock Exchange. British International Investment (BII) is participating as the anchor investor with a USD 15 million commitment.
Read more at: https://www.tanzaniainvest.com/finance/capitalmarkets/crdb-al-barakah-sukuk-islamic-bond
