ECONOMICS - Turkey has big potential to be key sukuk market:
"Arab and Malaysian markets will continue to dominate sukuk issuance, though Turkey and Indonesia have the potential to become key sukuk markets in the long term, according to the latest Moody’s report on global Islamic banking. However, sector representatives believe Turkey still has a long way to go in developing its Islamic finance market.
Issuance volumes will remain concentrated in regions that have a natural cultural affinity with the sector, such as the Gulf Cooperation Council (GCC) markets, where Islamic banking asset estimates range from 10 percent in the UAE to 50 percent in Saudi Arabia, according to the Moody’s report, titled Global Sukuk Market: Positive Long-Term Growth Trends Set to Continue.
“We believe that Turkey and Indonesia also have the long-term potential to become strong domestic sukuk markets,” the report noted. "
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