Mena debt market can grow to $1.6trn

The debt market in the Middle East and North Africa (Mena) has the potential to grow to $1.6 trillion (Dh5.8trn) per annum but currently remains in its nascent stage, according to economic experts speaking at an event organised by the Dubai International Financial Centre (DIFC) yesterday.

The event – Issuing and Structuring Bonds and Sukuk – saw discussions on the IMF Global Financial Stability Report (April 2009), which said debt securities form just three per cent of the Mena capital markets.

This compares poorly with the average 42 per cent that debt securities contribute to global capital markets.