Gulf Islamic Bonds or sukuk issues are set to rise in 2013 as Shariah-compliant firms look for quality investments and governments seek financing for big projects. Gulf governments, government- related entities and banks will also take advantage of foreign investor interest in the region to refinance existing debt and raise funding to expand their businesses.
Dubai Electricity and Water Authority has already announced plans for up to $1 billion of sukuk. Gulf governments have also shown a keen interest in developing their Islamic finance industry, with Oman introducing Islamic finance for the first time in 2012 and Dubai announcing in January this year initiatives to boost Islamic finance products……………………………………Full Article: Source