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Persian Gulf falls behind Asia in Sukuk sales amid slump

Posted on 24 August 2010

Mohammed DawoodFrom Bloomberg: Islamic bond offerings from the Persian Gulf are struggling to keep up with Malaysia, the global hub for Shariah-compliant financial services, after new sales in the region fell to the lowest level in five years.

Issuance of Islamic debt from the Gulf has declined 24 percent to $2.5 billion so far this year, involving sales by three companies, according to data compiled by Bloomberg. Asia’s 29 borrowers, including Malaysia, issued $5.7 billion. The Gulf last outstripped Asian sukuk offerings in 2007…………………………………….Full Article: Source

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