Persian Gulf Islamic bond sales are beating Shariah-compliant loans in the Middle East, Europe and Africa for the first time since 2006 as borrowers seize on tumbling yields to finance roads and airports.
Sales of sukuk in the Gulf Cooperation Council have almost quadrupled this year to $18.5 billion as Saudi Arabia’s state- run Civil Aviation Authority and Qatar’s government sold $4 billion each, according to data compiled by Bloomberg. Loans that comply with Islam’s ban on interest, by comparison, have risen 57 percent to $11.4 billion in EMEA………………………………………..Full Article: Source