Get Ready for Corporate Sukuk Boom After Sovereign Rush
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The busiest year on record for sovereign Islamic bond sales is poised to be eclipsed as a revival in corporate issuance takes hold in 2015.
Companies in the U.K. and Hong Kong may be among those selling sukuk this year as they follow debut issues from their governments, according to National Bank of Abu Dhabi PJSC, the biggest Middle Eastern underwriter of Islamic bonds in 2014. Corporates in the Gulf Cooperation Council will be encouraged to tap the market as bank liquidity and credit conditions deteriorate amid declining oil prices, Moody’s Investors Service said last month.