UAE Central Bank calls for creation of a centralised Sharia board to facilitate the sale of sukuk. The Arab states must develop their bond markets by issuing laws to encourage transactions in bonds, UAE Central Bank Governor Sultan Bin Nasser Al Suwaidi said.
“Arab states have been developing their financial markets, but the public bonds have remained limited in the Arab market, though they are important. There’s a need that the government bonds should constitute at least 15 per cent to 25 per cent of the GDP [gross domestic product],” Al Suwaidi said……………………………………….Full Article: Source