IslamicFinance.de

New bond issuance has swept the Gulf but there is still not enough volume to support the number of banks vying for the business. The number of banks hired to run deals in the Middle East is shooting up from the typical five or six arrangers. Qatar has hired 10 banks for an upcoming trade, DP World and Emirates Islamic Bank nine each while Noor Bank seven. For investors, having so many banks makes deals more cumbersome and potentially cuts into the allocation if each bank brings its own buyers.