IslamicFinance.de

The Thomson Reuters Global Sukuk Index is at 117.76047 points, down from 118.42537 at the end of last month but up from 115.79726 at the end of last year. The Thomson Reuters Investment Grade Sukuk Index is at 116.64082 against 117.32893 at end-May and 113.69014 at end-2014. Some of the sukuk in the pipeline are: Saudi Arabia's Al Othaim Real Estate and Investment Co has revived plans to issue a debut local currency Islamic bond, probably after the summer. Dubai's Drake & Scull International set initial price guidance for its senior perpetual U.S. dollar sukuk at around 9 percent. The Islamic Development Bank increased the ceiling of its Islamic bond programme to $25 billion from $10 billion. Malaysian mortgage lender Cagamas still hopes to issue sukuk this year off a $2.5 billion multi-currency programme set up last November.