Because of the financial and political uncertainty in the region, Noor Islamic Bank does not expect the Islamic bond market to ameliorate for another three years.
Hussain Al Qemzi stated that three years from now the sukuk will come back stronger.
Some companies like Sharjah Islamic Bank and HSBC Middle East were oversubscribed, therefor there was some hope that sukuk will torn around.
It seems that HSBC Middle East is going to meet investors in Asia and Europe for a potential sukuk issue. The meetings will take place in Singapore, Kuala Lumpur, Hong Kong and London.
In order to strengthen its relations with the Middle East and India, Jersey Finance wants to open a new overseas office.
The plan is to succeed this in the first quarter of 2011.
The organisation has two other overseas offices, in London and Hong Kong.
HSBC Middle East is regulated on Jersey, while Emirates NBD, the National Bank of Kuwait and the National Bank of Abu Dhabi all run elements of business on the island