Gulf-based banks, law firms and other market participants are close to launching a professional bond market organisation, a US Treasury envoy told a regulators’ conference in Dubai.
Michael Grifferty, a regional adviser for government debt issuance, said a bond and sukuk market would be the “spare tyre which needs to be inflated” to help in the economic crisis.
“In the next months, we will see a market organisation where market players and service providers will... provide input to regulators,” said Mr Grifferty.
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