Healthy H1 sukuk volume could lead to record year
Sukuk issuance in the first quarter of 2014 prompted relatively significant concern as issuance volumes showed no signs of rebounding from a weak 2013. However, the second quarter provided a boost heading into Ramadan with issuance sitting at $66.3 billion. Despite a decline in the number of sukuk issued from 383 to 330, issuance volume rose 14% compared to the same period last year as issuers boosted the size of their sukuk while also lengthening the average tenor. The issuance volume growth is significant but there is a greater need for more tradable instruments because there are no other sources in some of the largest markets.
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