Strong demand for a sukuk issued by Turkish bank Kuveyt Turk last month underlines how Turkey may become a major source of Islamic bonds for Gulf investors who are keen to diversify geographically.
The $350 million sukuk, issued at par and carrying a profit rate of 5.875 percent, was only the second sukuk issued from Turkey. But it attracted orders totalling over $550 million — and Gulf investors accounted for nearly 70 percent of final subscribers, according to data released by the lead arrangers………………………………………..Full Article: Source