The report shows that South East Asia remain to denominate the sukuk market with issuances worth US$17.35 billion in H1'10 compared to US$8.89 billion in H1'09 and even US$4.5 billion in H1'08. Malaysia topped the issuer countries in terms of the amount and the numbers of issuances with 310 issuances worth US$ 15.4 billion, followed by Indonesia with 16 issuances amounting to US$ 1.75 billion. The GCC Sukuk market recorded zero issuances on the corporate level, and only one Quasi Sovereign issuance for Saudi Electricity.
According to the report released by IFIS, Sukuk issuances in US Dollar increased by 29%, a surge attributed to the rise in International issuances from US$1.4 billion in H1'09 to US$ 2.72 billion in H1'10. As for the currency denomination, Malaysian Ringgit was recorded as the number one currency in which Sukuk were denominated on the domestic level, accounting for about 84% of total domestic issuances and 69.6% of total issuances in H1'10.
HSBC Group topped IFIS Global Sukuk Bookrunners Ranking in H1'10, followed by CIMB Group and Samba Capital. Though CIMB participated in underwriting more Sukuk than HSBC; however, the later managed to underwrite the largest deal in the first half for Saudi Electricity worth US$ 1.9 billion.
The report concluded with Market highlights and an outlook for H2'10. To view full report, please contact IFIS at IFIS@securities.com
-End-About IFIS IFIS, Islamic Finance Information Service, www.securities.com/ifis is the pioneer dedicated online platform for the global Islamic Finance Industry. IFIS coverage is comprehensive and global, covering all news, research, analysis, ratings, regulations and events related to Islamic Finance. IFIS maintains Global databases on Islamic Bonds Market, Islamic Mutual Funds, Islamic Financial transactions, Islamic project Finance, Law firms in Islamic Finance and Shariah Scholars Database.
Ghada Abdalraheem IFIS Team Head T: +202 333 66 201 F: +202 333 83 398 E: email@example.com
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