International market uncertainties encourage gulf sukuk issues
1/17/2012 3:00:56 PM
A flurry of sukuk issues from the Gulf last week shows borrowers are worried about limited global liquidity and future access to debt markets, and are turning to Islamic finance as a source of money that is relatively untouched by the global turmoil.
Gulf bond issuance was lower than expected last year as many companies held off on coming to market, unwilling to pay high prices due to poor market conditions; total debt issuance from the Gulf region last year was $25.8bn, short of analysts’ estimates that volumes would be well above $30bn.
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