DAR ES SALAAM, Nov. 19 -- CRDB Banks Al Barakah Sukuk has set a formidable new benchmark in Tanzanias capital markets, attracting overwhelming investor demand that points to a rapidly maturing financial sector and a surging appetite for Islamic finance.

Originally targeting 30bn/- and 5.0 million US dollars, the landmark issuance drew an extraordinary drew 125.4bn/- and 32.3 million US dollars achieving a remarkable 418 per cent and 646 per cent oversubscription.

The Deputy Permanent Secretary in the Ministry of Finance, Dr Elijah Mwandumbya, said during the listing of the bond on Dar es Salaam stock Exchange (DSE), the extraordinary performance of this Sukuk is a clear testament to the maturity of the countrys capital markets and the s...