| Global sukuk sales will challenge this year’s record of $46 billion in 2013 as countries such as Oman, Tunisia and Egypt tap the market for the first time, CIMB Group Holdings Bhd. and OCBC Al-Amin Bank Bhd. say.
Borrowing costs on Shariah-compliant debt have fallen 11.4 percentage points to 2.82 percent since the end of 2008 as central banks in Europe, the U.S. and Japan pumped funds into their economies to spur growth. Demand will be driven by the rise in Islamic banking assets, which may reach $1.8 trillion next year, compared with $1.3 trillion in 2011, led by Saudi Arabia and Malaysia, Ernst & Young forecast in a Dec. 10 report...............................................Full Article: Source
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