PRECIOUS METALS | Turkey’s Treasury Borrows Gold via Gold-Backed Bonds and Sukuk, Market Sources Say

Turkey’s Treasury has borrowed gold through gold-backed debt issuance, according to market sources cited by Jin10. Market sources said the Treasury borrowed 2.41 metric tons of gold by issuing gold-backed bonds to corporate investors and public institutions. The sources also said it borrowed 5.36 tons of gold by issuing gold-backed Islamic bonds (sukuk).