A recent spate of Islamic bond issues in the Gulf region is setting up the fledging sector for a strong second half of 2011, as borrowers look to benefit from attractive pricing and improving investor sentiment.
The flurry of activity, including two Gulf sukuk issues in the past week - by Islamic Development Bank and Sharjah Islamic Bank - and several more in the pipeline, were seen as signs the sukuk market may be embarking on a recovery.
"The recent sukuk issues could be the beginning of what may be a resurgence of the sukuk market in this region," said Chavan Bhogaita, head of the markets strategy department at National Bank of Abu Dhabi.
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