Middle East Economic Survey

VOL. LII

No 36

7-Sep-2009

REGIONAL

Sukuk Market Smaller In 2009 But Outlook Positive, Says S&P

New issuance of sukuk (bonds compliant with Islamic law) topped $9.3bn in the first seven months of 2009 compared with $11.1bn during the same period in 2008, Standard & Poors Ratings Services reported on 2 September. The smaller amount of issuance was due not only to the still challenging market conditions and drying up of liquidity, but also to the less supportive...