IslamicFinance.de

Nine months ago Al Baraka Banking Group cancelled the debut sales of sukuk due to very high yields. Now that the situation has turned and Al Baraka Turk Katilim Bankasi again considers its previous intentions. It plans to offer $250 million (Dh917 million) of seven-year dollar-denominated sukuks this year.

The postponement of the proposed sukuk offerings of two of Turkey's participation banks, Al Baraka Turk Katilim Bankasi and Bank Asya, showes how the dynamics of the global financial crisis, especially the on-going euro zone debt crisis and the credit crunch, are having a negative affect on more stable economies in the emerging countries.
Both banks were supposed to close their sukuk offerings by the end of 2012.
An ATPB source stated that if the market conditions are right, they may re-announce the (sukuk) transaction within this month (January 2012), probably in 2 weeks time.