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Huge potential for sukuk in Saudi and Gulf market: Al-Jasser

Posted on 22 February 2011

From Arabnews.com: “Sukuk have a very great potential in the Saudi and Gulf market. The Saudi market is moving from traditional sources of financing such as bank credit to corporate bond and sukuk. This is a development issue and has started to happen. The banks may not be able to meet local funding requirements from traditional sources given the rapid expansion of infrastructure and projects in the Saudi economy.
But this also depends on the demand and supply dynamics of the market. The Saudi Arabian Monetary Agency (SAMA) encourages banks and corporates to go down the sukuk route. We would like to see the local credit market diversified from bank finance to corporate bonds and sukuk,” explained Muhammad Al-Jasser, governor of SAMA, the central bank, in Oxford last Wednesday……………………………………….Full Article: Source

 
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