Dubai, January 25, 2016 - The Gulf Bond and Sukuk Association (GBSA), the trade association representing the Arabian Gulf fixed income market, has released a set of recommended best practices for the issuance of government funding instruments in the Gulf.
The President of the GBSA, Michael Grifferty, said: "Local currency markets will form an increasingly important part of the funding mix in 2016, helping states respond to fiscal pressures. Governments can get the most out of the exercise by using issuance techniques that help the markets develop. We feel that issuing standard instruments on a regular basis and allowing markets to determine prices are among the ways to assure success."
Grifferty continued: "The current macro circumstances offer an opportunity to create robust yield curves in local Gulf currencies that can be extremely useful for pricing risk in the GCC economies. That is why GBSA felt it was important at this time to highlight some globally proven best practices in order to assist regional governments with their planned debt issuances."
The best practice publication is available for download at this link.
The GBSA's working groups and National Chapters bring together the thought leaders of the regional credit markets to create a more collective voice on key issues affecting the industry.
The Gulf Bond and Sukuk Association
The Gulf Bond and Sukuk Association (GBSA) is the regional trade association representing the Arabian Gulf bond and sukuk market. GBSA is involved in all major matters concerning development of bond markets in the region.
For further information please contact:
Michael P. Grifferty
President
The Gulf Bond and Sukuk Association
mgrifferty@gulfbondsukuk.com
www.gulfbondsukuk.com
Tel: +971.4.401.9944
© Press Release 2016
