ID :
138955
Tue, 08/24/2010 - 09:33
Auther :
Shortlink :
https://oananews.org//node/138955
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GLOBAL SUKUK ISSUANCE TO REACH US$30 IN 2010 - REPORT
By Muin Abdul Majid
DUBAI, Aug 23 (Bernama) -- The global sukuk issuance is expected to reach US$30 billion in 2010, according to a report prepared by Kuwait Finance House (KFH)Research Limited.
It said the 2010 sukuk market would be driven by the recovery in global economic
activity, record low interest rates, continued sovereign fund raising to support
economic growth as well as revival of private sector projects.
"More sovereign and corporate issuers are anticipated in 2010, which include
potential debuts from Japan, Thailand, Turkey, United Kingdom and Russia," it
noted.
According to the study, sovereign sukuk issuances in the first half of 2010 were
expected to help revive the global sukuk market as they provided the necessary
benchmark pricing for the private sector to gauge investor appetite this year.
The report said over the years, the sukuk market had grown to reach
approximately US$100 billion and contributed 12 per cent of the total global Islamic
finance assets in 2009.
KFH Research said in the first half of 2010, total sukuk issued globally was
valued at US$16.5 billion, 116.3 per cent higher than the US$7.6 billion raised
in first half of 2009.
By country, Malaysia continued to dominate the global sukuk market,
contributing 60.5 per cent of the total value of sukuk issued in first half of 2010,
it said.
Saudi Arabia and Indonesia each trailed at 14.1 per cent.
By currency type, ringgit-denominated sukuk deals topped at 53.4 per cent,
followed by US dollar deals at 10.3 per cent and Qatari riyal issues, at 8.3 per
cent.
The report indicated that the long-term prospects for the sukuk market were
expected to remain strong.
This was based on the increasing popularity of syariah-compliant products,
governments' support for Islamic finance, huge investment and financing
requirements in the Gulf Cooperation Council (GCC) and Asia, and issuers' desire
to tap investors from the Middle East and Muslim Asia.
"With a healthy array of sukuk in the pipeline, the market is attracting
interest from an increasing number of issuers in Muslim and non-Muslim countries
alike," it added.
-- BERNAMA
DUBAI, Aug 23 (Bernama) -- The global sukuk issuance is expected to reach US$30 billion in 2010, according to a report prepared by Kuwait Finance House (KFH)Research Limited.
It said the 2010 sukuk market would be driven by the recovery in global economic
activity, record low interest rates, continued sovereign fund raising to support
economic growth as well as revival of private sector projects.
"More sovereign and corporate issuers are anticipated in 2010, which include
potential debuts from Japan, Thailand, Turkey, United Kingdom and Russia," it
noted.
According to the study, sovereign sukuk issuances in the first half of 2010 were
expected to help revive the global sukuk market as they provided the necessary
benchmark pricing for the private sector to gauge investor appetite this year.
The report said over the years, the sukuk market had grown to reach
approximately US$100 billion and contributed 12 per cent of the total global Islamic
finance assets in 2009.
KFH Research said in the first half of 2010, total sukuk issued globally was
valued at US$16.5 billion, 116.3 per cent higher than the US$7.6 billion raised
in first half of 2009.
By country, Malaysia continued to dominate the global sukuk market,
contributing 60.5 per cent of the total value of sukuk issued in first half of 2010,
it said.
Saudi Arabia and Indonesia each trailed at 14.1 per cent.
By currency type, ringgit-denominated sukuk deals topped at 53.4 per cent,
followed by US dollar deals at 10.3 per cent and Qatari riyal issues, at 8.3 per
cent.
The report indicated that the long-term prospects for the sukuk market were
expected to remain strong.
This was based on the increasing popularity of syariah-compliant products,
governments' support for Islamic finance, huge investment and financing
requirements in the Gulf Cooperation Council (GCC) and Asia, and issuers' desire
to tap investors from the Middle East and Muslim Asia.
"With a healthy array of sukuk in the pipeline, the market is attracting
interest from an increasing number of issuers in Muslim and non-Muslim countries
alike," it added.
-- BERNAMA
