The global demand for Islamic bonds or Sukuk will grow three-fold from the current $300 billion to $900 billion by 2017, global consultancy Ernst and Young forecasted in a study published on Saturday.
“Sukuk continues to be in the spotlight, especially after the global economic meltdown, where we learnt that carrying excessively risky debt on the books can lead to financial collapse during black swan events,” said Ashar Nazim, MENA Islamic Finance Services Leader at Ernst and Young in Dubai. Nazim, however, doubts that the market will be ready in five years to satisfy the market demand for $900 billion of Sukuk………………………………………..Full Article: Source