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

Sukuk can foster economic development in Saudi Arabia

Posted on 02 May 2012

Sukuk market will be spurred by the global economic turmoil, as global deleveraging leads to a reduction in global bank credit available for Saudi companies and projects; funds are needed and the government is correctly reluctant to provide it directly.
“Sukuk can foster economic development In Saudi Arabia. Companies start to turn to the Sukuk market to fill the funding gap. Although important progress has been made in Sukuk issuance, the active names have tended to be large companies - led by GACA, SABIC and Saudi Electricity Company - as cost considerations and illiquid secondary markets have deterred others,” said Richard Banks, Director of Euromoney Saudi Arabia Conference. ……………………………………….Full Article: Source

 
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