Foreigners to tap GCC sukuk market
Manama, April 15, 2009
Demand for Islamic bonds (sukuk) will increase from next year when foreign investors are expected to tap Gulf Arab markets, a top banker said.
Simon Eedle, managing director of Global Islamic Banking at Calyon, told the Reuters Islamic Banking and Finance Summit in Bahrain that foreign investors would be issuing sukuk to tap the Gulf Arab region's ample liquidity compared with other markets.
'Once we got the market functioning ... there is going to be a huge opportunity for the right sectors and the right names to tap that Islamic wealth,' he added.
He said a new investor base in the Gulf Arab region is emerging that includes pension funds and Islamic insurers.-Reuters
More Finance & Capital Market Stories
- Qatar 'most expensive country in Gulf'
- Egypt regulator sets rules for index
- Dubai Islamic eyes Kenya, Indonesia for expansion
- ADCB to buy back 3pc of its shares
- GCC insurance growth outpaces developed markets
- Bahrain 'faces budget deficit, inflation challenges'
- Global Payment Services wins key certification
- BBK unveils big India expansion plans
- Kuwait GDP growth to hit 3.5pc in 2014
- Gulf shares tumble over EM exposure cut
- GCC bonds to gain from macro-economic climate
- French Business Council Dubai members up 18pc
- Egypt economy growth seen less strong than thought
- Sharjah approves $4.2bn budget for 2014
- Saudi non-oil sector posts solid growth in Feb
- Seera total income rises to $34m
- NBAD approves 40pc cash dividends
- NBAD sees 8-10pc loan growth
- Al Basel Group launches investment arm
- Union Insurance posts $18m profit
- Oman warns banks on conflicts of interest
- Japan to lend Tunisia $480m
- 400 to join anti-laundering seminar in Riyadh
- Lebanese insurer to head Prague Club
- UAE's first REIT plans $135m IPO
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards