IslamicFinance.de

As the hard currency denominated sukuk issuance gains momentum, analysts expect more new Islamic and non-Islamic sovereign issuers to enter the market. Since 2001, governments of South Africa and Sharjah, and at least eight other governments - Luxembourg, Morocco, Tunisia, Egypt, Jordan, Oman, Bangladesh and Kenya - have expressed firm intentions and are likely to issue sukuk in the next two years. The United Kingdom issued its inaugural sukuk, while Hong Kong and South Africa are expected to conclude sales in September 2014. Various other countries such as Australia, the Philippines, South Korea, Russia and Azerbaijan have shown moderate interest in the sector.