Bucking a lackluster trend in the primary GCC bond and sukuk market, corporate issuances from the UAE continued to dominate the regional bond market, underpinning the resilience in business confidence.
Corporate issuances from the UAE, raising a total of $7.3 billion, continued to lead the market in terms of issuances at 49, representing 70 per cent of the total number of issuances.
In contrast to a dismal overall market scenario, which saw the aggregate primary issuance of bonds and sukuks in the GCC dropping 18.7 per cent to $37.6 billion in the first half of 2012, issuances by UAE entities raised the largest amount accounting for 36.4 per cent of the total amount, or $ 8.5 billion.
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