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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Market Moves more

Gulf borrowers tap Malaysia for sukuk sales

Posted on 03 January 2011

From Gulf-times.com: Arabian Gulf borrowers are selling ringgit-denominated Islamic bonds at a record pace in Malaysia to raise funds for expansion and take advantage of demand in the world’s biggest market for Shariah-compliant bonds.
Issuance surged to 1bn ringgit ($318mn) last year, the most since 2008 when Gulf companies started tapping the Malaysian market, data compiled by Bloomberg show. In 2009, 100mn-ringgit of debt was sold. Dubai’s government is “likely” to sell bonds next year and a Malaysian offering is a possibility, Abdulrahman al-Saleh, the director general of the emirate’s Department of Finance, said on December 14.2………………………………………Full Article: Source

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