Last year saw a record $144bn of sukuk issuance, according to Islamic Finance Information Service (Ifis). More than that, the market featured renewed reach, strength and innovation: sovereign issues came from ever further afield, notably Turkey; headline deals were bigger than ever before, particularly Qatar’s record $4bn issuance; corporate issuance was not only widespread but innovative, such as Axiata’s dim sum offshore Rmb sukuk; and it was notable that the first Basel III-compliant tier one instrument from a Middle Eastern bank came not in conventional but Islamic form, with a $1bn tier one perpetual from Abu Dhabi Islamic Bank in November.
Sukuk bond market: mixed signals
No comments:
Post a Comment