Here is a selection of Arab banking news stories that we have been following recently. Bank M&A in the Gulf, Blom's successful capital increase and the British government's second sovereign sukuk.
IIFM Publishes Global Sukuk Report
- 13th, December, 2017
The Sukuk report has data on sukuk issuance from 2001 to 2016, and includes data specific 2016 and other recent years so that trends can be seen.
Sukuk issuance in 2016 totalled $88,279mnn, of which $56,718mn was domestic and the remainder internationoal. Sovereigns were the main issuers.
The report also details the type of instrument used during 2016: for example, 77% of international issuance was under Wakala structures, while most domestic issuance was under Ijarah or Murabaha.
The data is not set out as well as it could be, and is confusing at times, but nonetheless, its provides a good breakdown of issuance by country of origin,type of issuer, and type of instrument.
The report also describes in detail how some of the more significant sukuks were structured during 2016.
The full report can be seen on the IIFM's website www.iifm.net. A summary of some of the data in the report is attached below.
The International Islamic Financial Market (IIFM) that publishes the report, is based in Bahrain and drafts standard financial contracts that can be used by Shari'ah-compliant banks (essentially replicating the economic effect of instruments such as interest rate swaps through Shari'ah-compliant instruments).
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