IslamicFinance.de

Global Islamic bond sales look set to miss out on a record year after Malaysia’s sovereign wealth fund postponed what would have been 2014’s biggest offering. The top underwriter is also cautious over the coming year. Issuance to date is $2.1 billion shy of the unprecedented $46.8 billion in 2012 and more than last year’s $43.1 billion total. Bond issuance will likely taper off now as bankers and investors go on their year-end holidays. It's expected to be a challenge for sales to test new highs next year as the slump in crude oil prices may deter issuance. Most of the issuance is expected to still come from Malaysia and some from the Middle East.