Market failure is a general term that describes situations where market results are not Pareto efficient. Market failure can be seen in situations where the…

The purpose of a financial exchange is to facilitate trading in the securities for which it was created, and this it does by establishing a…

Islamic bonds or finance is governed by Islamic rules and principles (Shariah) which, inter alia, prohibit the payment of interest (Riba). Shariah also forbids the…

A number of so-called retail bonds exist in a number of countries of the world. As the name suggests, they are bonds, i.e. have a…

Global bonds are bonds that are issued and traded in two or more markets but are denominated in the currency of one of the markets. This…

Eurobonds are bonds that are issued in countries other than the country of the currency in which they are denominated. For example, the Kenyan government…

Foreign bonds are bonds issued by foreign entities (usually governments and parastatals) in local currency. They are foreign from the point of view of the…

Extendable bonds are bonds where the issuer has the option to extend the term of the bond beyond the (initial) maturity date for another fixed…

Split coupon bonds are similar to Pay-in-kind or PIK bonds in that no interest is paid in the first few years (except that here the…

Pay-in-kind (PIK) bonds are bonds where the issuer has the option to pay the interest in the form of additional bonds. In some cases the…