Gulf Islamic borrowing costs are poised for their biggest monthly surge since May 2010 after $1.8bn in new sales and as Europe’s debt crisis deepened.
The average yield on Islamic bonds in the six-nation Gulf Co-operation Council jumped 59 basis points in November to a seven-week high of 4.46% on November 25, the HSBC/Nasdaq Dubai GCC US Dollar Sukuk Index shows. Sales this month brought sukuk issues for the year to $6bn, up 52% from the year-earlier period………………………………………..Full Article: Source