Worldwide Coronavirus Cases Cross 41.04 Million, Death Toll at 1,127,177    Migrants essential to recovery of global development post-COVID-19: UN study    Saudi Press: Saudi Arabia Hosts Global AI Summit    Weather Forecast for Thursday    Saudi Aramco Foresees Technology Future, Creating Digital Transformation in its Business Performance    COVID-19 and travel outside Saudi Arabia    King Salman highlights role of women in national development ‘Saudi Arabia has embarked on unprecedented reform journey to empower women'    Sharjah Film Platform to feature over 60 films    Full Text of the Custodian of the Two Holy Mosques Speech at W20    Combining the love of football with humor on Twitter    U.K. Trade Chief to Visit Japan to Sign Post-Brexit Deal on Friday    UAE Cabinet approves amendments to provisions of bankruptcy law    Dubai Sports Council, UEFA discuss mutual cooperation    SFDA, Indian Embassies and Pharmexcil deliberate on pharmaceutical sector    Arab world's modern-day cultural pioneers, intellectuals to convene at SIBF 2020    S. Korea Vows to Join IMF's Move to Help Low-Income Nations Hit by pandemic    Saudi Arabia Partners with World Bank to Ensure No Nation Is Left Behind on AI    Saudi Arabia to make golf free for women in world-first initiative    Legal Advisors and Baker McKenzie advise on BinDawood Holding's Tadawul IPO    MoH Marks World Osteoporosis Day 2020    KFSH&RC is Recognized by the College of Healthcare Information Management Executives (CHIME) as ‘Healthcare's Most Wired'    UAE, Israel sign air transport services agreement    Global AI Summit begins with eye to establish practical and effective system    Under the patronage of HRH Crown Prince, Global AI Summit begins    Worldwide Coronavirus Cases Cross 40.62 Million, Death Toll at 1,120,183    Saudi Cabinet condemns terror attack in France, calls for confronting hate speech    UN human rights chief voices concern over arrest of activists, curbs on NGOs In India    UN report shows still long way to go for gender equality    Dynamic UAE-US ties highlighted during inaugural strategic dialogue    Saudi man accused of harassing foreign wife asked to be produced before court Court allows divorce, custody of children by mother    Saudi Arabia leading GCC entries in 10th annual ‘Moments' competition    Man United, Liverpool in talks to join new European super league    KSrelief, IMC, sign cooperation deal    Saudi Arabia to Organize 1st International Standards Summit within G20 Activities    Players in Prince Muhammad Bin Salman Cup don jerseys with names written in Arabic script    KSrelief, IMC, Sign Memorandum of Cooperation    Napoli blast four goals as they thumped Atlanta 4-1    VAR foils Liverpool in derby draw with Everton    Ithra to Launch 3rd Creativity Season (Tanween)    MoH Calls on Groups of Patients to Postpone Umrah Performance    Red Sea International Film Festival Announces a New Short Film Competition    S. P. Bala, legendary Indian singer, dead at 74    Happy National Day 90    Every work has its fruits, so choose wisely    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Kerala's Diaspora Bond to be marketed in Gulf
Published in The Saudi Gazette on 27 - 09 - 2020

The Kerala government's Infrastructure Investment Fund Board, (KIIFB) has solicited participation by financial institutions outside India, including those in the Gulf, as lead managers for a Diaspora Bond aimed at building resilience against natural disasters in the state such as a devastating flood, which occurred two years go.
The invitation for such participation by tender envisages selection of two lead managers, one Indian and one international to act as a consortium. The state government has approached the World Bank to work with KIIFB to facilitate in issuing the bonds.
The Diaspora Bonds, designated in Indian rupees, will be marketed in the GCC states where the majority of non-resident Keralites live. In addition to building Kerala's infrastructure and resilience, the Diaspora Bond is designed to make Keralites in the Gulf stakeholders in their native state's development.
According to KIIFB officials, Kerala accounts for roughly 15 percent of remittances into all of India. The bulk of such remittances into Kerala is from the GCC area. The imperative of Diaspora Bonds has been made more urgent by the Coronavirus pandemic which has caused major disruptions in financial flows into the state. — WAM


Clic here to read the story from its source.