Sudanese bank launches first green sukuk for renewable energy

A Sudanese bank on Monday launched an investment fund offering what it said was the country’s first green sukuk -- or bonds compliant with Islamic banking principles -- aimed at financing renewable energy for commercial use.

The 4.75 billion Sudanese pounds fund ($11.3 million) launched by Sanabel, a subsidiary of the Bank of Khartoum, aims to finance the production of 55 megawatt hours per day, according to its prospectus, for industries such as agriculture and mining.

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