Brunei Darussalam launched its first BND 150 million offering of the Short-Term Sukuk Al-Ijara on 6 April 2006, which was immediately followed by similar issuances on 18 May 2006, 13 July 2006, 2 November 2006, and 15 February 2007.

Sukuk Al-Ijarah is an Islamic bond, the issuance of which is backed by the buying, selling and leasing of tangible properties.

The instruments are first sold to primary dealers through a bookbuilding process, but the government said that an auction process shall be adopted for future issuances.