Sukuk missing: Saudi state oil giant Aramco's greenfield refining and petrochemical project at Jubail is to go ahead without Islamic project bond funding

The capital markets were deemed too fragile to issue a riyal-denominated Islamic bond to help fund Satorp's greenfield refining project in Saudi Arabia, but that doesn't mean this type of asset funding has gone away. Project sukuk are becoming well known in the Middle East as Islamic finance-friendly products. Writer James Gavin

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