IslamicFinance.de

The global primary sukuk market has begun 2Q2014 on a solid footing as the month of April has produced a new issuances volume of more than USD13.4bln, making it the best performing month in 2014 year-to-date (YTD). The month saw a welcoming return of the Gulf Cooperation Council (GCC) sukuk issuers who expanded their volume with issuances totalling more than USD4bln. Issuances by GCC based obligors helped shore up the share of corporate sukuks which accounted for USD2.4bln of the total issuance volume in April, registering a 65% increase compared to March. However proportionately, the market continued to be heavily driven by the sovereign and quasi-sovereign issuers who collectively accounted for approximately 82% of the issuance volume in April