22.04.2013 - Islamic loans slump as sukuk gets competitive
Islamic loans slumped this year to the lowest since at least 2006 as banks encourage borrowers to tap the sukuk market, where borrowing costs have dropped almost 12 percentage points since the world credit crunch. Syariah-compliant lending in the Middle East, Europe and Africa declined 95 per cent to US$287 million (RM869.6 million) in 2013 from a year earlier, while sales of Islamic debt rose 6.2 per cent to US$13.8 billion, data compiled by Bloomberg show. Global sukuk yield averaged 3.1 per cent, down from a record 14.9 per cent in February 2009 during the credit-market squeeze...............................................Full Article: Source
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