Kevin Humphreys (Dublin South East, Labour)
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136. To ask the Minister for Finance the plans by the National Treasury Management Agency to issue Sharia-compliant Sukuk, also known as Islamic bonds; and if he will make a statement on the matter. [6177/14]

Michael Noonan (Limerick City, Fine Gael)
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I am informed that the National Treasury Management Agency (NTMA) currently has no plans to issue a sharia-compliant sovereign Sukuk also known as Islamic bonds. The NTMA recently raised €3.75bn out of a probable total of €8 billion for 2014 all of which is pre-funding for 2015. Given this relatively modest issuance plan and the desire to return to regular bond auctions, the focus for the near future will be on conventional issuance likely to be completed via auctions of Irish government bonds, the main source of borrowing for the national debt.