IslamicFinance.de

Fitch Ratings says in a new report that total new bonds and Sukuk (with a maturity of more than 18 months) from the GCC, Malaysia, Indonesia, Turkey, Singapore, Pakistan, Sri Lanka, and Taiwan (GCC+7) declined 27 per cent in 1H15 from a year ago. Bonds were down 30 per cent and Sukuk by 16 per cent. In 2Q15 Sukuk accounted for 20 per cent of total new issuance, marginally up from 18 per cent in 2Q14. The decline is driven by falling oil prices, challenging external funding conditions due to the expected Federal Reserve interest rate hike, and uncertainties over Greece during 2H15. These factors have led to increased volatility in global financial markets.