Middle-east Arab News Opinion | Asharq Al-awsat

Islamic Sukuk Market Continues to Grow - Report - ASHARQ AL-AWSAT English Archive
Select Page

London, Asharq Al-Awsat – The global Sukuk market has maintained its climbing pattern in the third quarter of 2007, with total Sukuk issuance aggregating US$37.3bn- a notable growth of 110.7% over the previous year, according to a report by the Islamic Finance Information Service (IFIS).

The report showed that Malaysia Ringgit denominated Sukuk made up for 54% or US$20.1bn of the global Sukuk market during Q3. The report also showed that Sukuk listed on the Dubai International Financial Exchange (DIFX) and London Stock Exchange (LSE) amounted to US$16.14bn and US$7.2bn respectively.

HSBC Amanah topped the Overall (International + Domestic) IFIS Bookrunners Sukuk League Table with total Sukuk issuance of US$3bn as well as the International Sukuk Bookrunners table valued at US$ 2.78bn. Meanwhile, CIMB Islamic led the IFIS Domestic Bond Bookrunners League Table with Sukuk issuance aggregating US$1.97bn.

According to Firas Abi Ali, IFIS Senior Analyst, “Analysts at Fitch and UBS confirm that some players in the GCC who were planning to announce deals are waiting until next year. However, the analysts added that the major and biggest issuers in the region are not as affected by the sub-prime crisis due to the size of the issuer, the high liquidity in the market and the Government – backing offered to many issuers.

He added “IFIS has tracked over $92.22 billion worth of Sukuk worldwide from 2000 to date”.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube