The GCC sukuk market has reached an “inflection point” in terms of new issuance, propelled by a fast growing appetite for infrastructure finance as the UAE emerged as the third global growth market for Islamic bonds, Standard & Poor’s said on Monday.
In the GCC, the UAE has become the second market for sukuk in the year to July with $5.3 billion. Saudi Arabia now leads the GCC ranks with $8.8 billion, replacing Qatar, which is currently in third with $4 billion. The kingdom is currently the second-largest global issuer behind Malaysia at $51.6 billion, after the government made moves to support Islamic finance………………………………………..Full Article: Source