Sukuk Drought Poised to End on First-Time Sales: Islamic Finance - Bloomberg:
"First-time sellers of bonds that adhere to Islam’s ban on interest are poised to revive an industry suffering its worst quarter in more than four years.
Luxembourg and Hong Kong aim to market debut offerings of sukuk next month, while Kenya, South Africa, Bangladesh and Tatarstan have announced plans for maiden issues. Islamic bond sales have fallen 82 percent to $2.6 billion this quarter compared with the previous three months, their lowest level since the first three months of 2010, according to data compiled by Bloomberg.
“All are seeking their share of fast-growing Islamic financial services activity,” Khalid Howladar, global head of Shariah-compliant finance at Moody’s Investors Service in Dubai, said in an Aug. 26 e-mail interview. “Initial sovereign issuances test and sometimes force the development of a legal environment conducive to Islamic finance.”"
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