Growth in the Islamic bond market, or sukuk, has been inching higher in the region. Sukuk issued in Asia accounts for about 40 percent or US$17 billion out of the total global issuance of US$43 billion this year.
Such Islamic bonds are popular with investors from the Middle East and has opened up new opportunities for Asian companies. Singapore-listed Noble Group is the latest to consider Islamic bonds for its financing needs. The commodities trading firm has announced that it will issue some 300 million Malaysian ringgit (US$98 million) of two-year Islamic bonds at 4.22 per cent per annum profit rate………………………………………..Full Article: Source