Worldwide Islamic bonds sales set for record year

May 5, 2014 11:09 am

Global Islamic bonds sales surged in April to $6.1bn last month, the most since September and almost double March’s $3.5bn, setting the stage for a record year as Middle East issuers fund infrastructure projects, Bloomberg has reported. Saudi Electricity Co’s $2.5bn dollar sukuk offer was the biggest during the month, followed by a $614m sale by DanaInfra Nasional Bhd, a Malaysian state-owned company set up to finance a subway in Kuala Lumpur. Sales from the Middle East will pick up in the second half of the year, led by infrastructure developers, while government-guaranteed offers and companies seeking to refinance debt will account for the majority of Malaysian issuance, Badlisyah Abdul Ghani, chief executive officer at CIMB Islamic Bank in Kuala Lumpur, said


by Ismail Al Hammadi
Al Ruwad Real Estate