Published: 2009/09/03
DUBAI: The market for Islamic bonds, known as sukuk, may improve in the medium term after falling 16 per cent in the first seven months of the year, bolstered by a "strong pipeline," Standard & Poor's (S&P) said.
Sales of syariah law-compliant debt declined to US$9.3 billion (US$1 = RM3.54) from January through July, from US$11.1 billion in the same period last year, a report released yesterday by S&P showed.
"Given the strong pipeline - with sukuk announced or being talked about in the market estimated at about US$50 billion - and efforts to resolve the major difficulties impeding sukuk market development," the medium-term outlook is positive, S&P credit analyst Mohamed Damak wrote.
Malaysia has taken the lead as the major country of issuance for sukuk, accounting for about 45 per cent of the total, S&P said. Issuers in Saudi Arabia contributed another 22 per cent, it said. - Bloomberg
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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