ID :
162684
Mon, 02/21/2011 - 09:39
Auther :
Shortlink :
https://oananews.org//node/162684
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GLOBAL SUKUK ISSUANCE TO SURPASS US$35 BIL THIS YEAR, SAYS GOVERNOR
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KUALA LUMPUR, Feb 21 (Bernama) -- Malaysia's central bank Bank Negara Malaysia (BNM) is optimistic the global sukuk issuance this year will surpass US$35 billion recorded in 2007 when it sustained the highest issuance level, says its governor Dr Zeti Akhtar Aziz.
Of the US$35 billion, Malaysia contributed US$13.8 billion, she said.
She said Malaysia was leading in the global Islamic finance industry, followed by the United Arab Emirates (UAE), Saudi Arabia, Indonesia and Bahrain, with the global sukuk (Islamic bond) market share standing at 62 per cent.
"From the approvals we have given and the Securities Commission has given, we believe the sukuk bond issuances will surpass the 2007 level this year," she told reporters after delivering a keynote address at the launch of Bloomberg’s Enhanced Islamic Finance Platform here Monday.
Earlier, in her speech, Dr Zeti said global sukuk issuance last year exceeded that of 2009 by more than 20 per cent and against this positive growth, investors and issuers' renewed confidence was evident.
She said the Islamic finance industry is set to be in an exciting period this year.
"The collaboration with AIBIM, Bursa Malaysia (Malaysia's Stock Exchange) and Bloomberg is also expected to see a ringgit corporate sukuk index in the offing," she said.
Going forward, Dr Zeti said efforts are underway between BNM and
Bloomberg to broaden this initiative to develop a foreign currency sukuk index.
She said liberalisation of the financial markets is expected to attract more foreign currency sukuk issuance by sovereign entities, multilateral institutions and multinational corporations.
In further strengthening the infrastructure for the sukuk market, the Malaysian Electronic Clearing Corporation or MyClear, a wholly-owned subsidiary of BNM, is also undertaking an initiative to promote cross-border financial transaction that is efficient, reliable and secured.
MyClear operates the country’s real time gross settlement system and securities depository system.
KUALA LUMPUR, Feb 21 (Bernama) -- Malaysia's central bank Bank Negara Malaysia (BNM) is optimistic the global sukuk issuance this year will surpass US$35 billion recorded in 2007 when it sustained the highest issuance level, says its governor Dr Zeti Akhtar Aziz.
Of the US$35 billion, Malaysia contributed US$13.8 billion, she said.
She said Malaysia was leading in the global Islamic finance industry, followed by the United Arab Emirates (UAE), Saudi Arabia, Indonesia and Bahrain, with the global sukuk (Islamic bond) market share standing at 62 per cent.
"From the approvals we have given and the Securities Commission has given, we believe the sukuk bond issuances will surpass the 2007 level this year," she told reporters after delivering a keynote address at the launch of Bloomberg’s Enhanced Islamic Finance Platform here Monday.
Earlier, in her speech, Dr Zeti said global sukuk issuance last year exceeded that of 2009 by more than 20 per cent and against this positive growth, investors and issuers' renewed confidence was evident.
She said the Islamic finance industry is set to be in an exciting period this year.
"The collaboration with AIBIM, Bursa Malaysia (Malaysia's Stock Exchange) and Bloomberg is also expected to see a ringgit corporate sukuk index in the offing," she said.
Going forward, Dr Zeti said efforts are underway between BNM and
Bloomberg to broaden this initiative to develop a foreign currency sukuk index.
She said liberalisation of the financial markets is expected to attract more foreign currency sukuk issuance by sovereign entities, multilateral institutions and multinational corporations.
In further strengthening the infrastructure for the sukuk market, the Malaysian Electronic Clearing Corporation or MyClear, a wholly-owned subsidiary of BNM, is also undertaking an initiative to promote cross-border financial transaction that is efficient, reliable and secured.
MyClear operates the country’s real time gross settlement system and securities depository system.
