GCC sovereign issuance expected to hit $148bn in 2018: Moody’s - The Peninsula Qatar

GCC sovereign issuance expected to hit $148bn in 2018: Moody’s - The Peninsula Qatar:

"The global sukuk market will continue to rebound from a sharp drop in volumes in 2015, supported by a range of factors, including rising sovereign issuance, product innovation, increasing demand from retail banks and a narrowing of spreads over conventional bonds, Moody’s Investors Service said in a report. Moody’s estimates that total sukuk issuance will reach around $95bn by the end of this year, after more than $85bn in 2016, including more than $50bn of sukuk issuance by sovereigns. “Sovereigns have underpinned a recovery in the global sukuk market this year, with their issuance increasing by 50 percent in the first eight months of 2017,” said Christian de Guzman, a Moody’s Vice President -- Senior Credit Officer and one of the report’s authors. “We expect sovereign sukuk issuance volumes will continue to grow in 2018 as governments look to diversify their financing mix and satisfy the liquidity needs of Islamic retail banks.”"



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