A total of US$25-US$30 billion worth of new sukuk (Islamic bond) issuances are expected to be issued in Malaysia next year despite a slow down in the global economy. CIMB Islamic Bank Bhd chief executive officer Badlisyah Abdul Ghani said sukuk currently accounted for 38.2 per cent of the total bonds outstanding.

In the first half of this year, the Securities Commission had approved 19 sukuk issues worth RM32 billion, of which RM24.6 billion has been issued. “In general, 2007 was the record year for sukuk issuances, which was roughly about US$24 billion to US$25 billion. This year we anticipate to close higher in terms of total new sukuk issuances………………………………………Fll Article: Source