IslamicFinance.de

The United Kingdom, Hong Kong and Luxembourg issued sukuk for the first time in 2014. They gave a huge boost to a market which was once just seen as a funding tool for borrowers from the Gulf and Muslim countries in southeast Asia. Senegal and South Africa also debuted on sukuk markets, lifting the total number of sovereign issuers to 19 so far. But top-notch entities such as Luxembourg and Britain are unlikely to be sukuk regulars. Momentum next year could instead come from emerging economies. Debut issuer South Africa raised $500 million in September. Oman, Kazakhstan, Tunisia, Bangladesh, Jordan, the Philippines and Kenya are also mulling sukuk.