IslamicFinance.de

After sales of Islamic bonds began the fourth quarter at the slowest pace in six years, sukuk from companies including FlyDubai and Bahrain Mumtalakat Holding Co are among deals announced or sold this week. They will increase the amount raised this quarter to at least $5bn. These deals have been in the pipeline and the market volatility in September and October delayed them, said Abdul Kadir Hussain, the chief executive officer of Mashreq Capital DIFC. However, the latest transactions won’t be enough to make for a record sukuk issuance year, he added. Global sukuk yields have retreated 17 basis points since reaching a five-month high in October to 2.8% on November 18.