Home About Kuna Advertise Contact Us Kuna's Bureaus Services Term Of Use
Register Login
facebook Twitter Youtube rss
Kuwait thrash Yemen in first Arab volleyball encounter      FAJ condemns 'Jewish state' draft law      France to hand over illegally-exported antique artefacts to Egypt      France, Egypt meet to discuss boosting trade, investment      British national among 5 killed in Kabul suicide attack      Kuwait, France wind up joint drill      Kuwait Stock Exchange ends Thursday in red zone
  Economics
Global sukuk market down by 15.2 pcnt in 1Q14 - report
18/04/2014   |   07:18 PM | Kuwait News
تصغير الخطالشكل الأساسيتكبير الخط
KUWAIT, April 18 (KUNA) -- The international sukuk market saw a modest volume of USD 31.1 billion in new sukuk issuances in the first quarter of 2014, according to a newly released report "Global Sukuk Report 1Q2014" by Kuwait Finance House Research Limited (KFHR).
This volume represents a drop of 15.2 percent as compared to the USD 36.73 billion in issuances during 4Q13 and 9.82 percent short of the USD 34.53 billion worth of issuances in 1Q13, it said.
The drop in issuance volume stems from a noteworthy slowdown in the GCC sukuk issuances in 1Q14, particularly in the month of March when the only GCC sukuks issued were the short-term liquidity management sukuks by the Central Bank of Bahrain, it said.
The volume of sukuk issuances in the GCC fell by 12.5 percent in 1Q14 as compared to the volume in 1Q13. Meanwhile, the commencement of tapering by the US Federal Reserve in its quantitative easing (QE) programme since January 2014 is another critical factor behind the decline in 1Q14's issuance volume, the report added.
The US Fed's tapering has led to higher funding costs for issuers, particularly in emerging markets, and this has potentially kept the issuers on hold to observe the market first.
Consistent with the trend over past several quarters, the primary sukuk market was led by sovereign and quasi-sovereign issuers who collectively accounted for 81 percent of the global primary sukuk market issuances in 1Q14.
Notably, the sovereign issuers accounted for 68.6 percent or USD 21.3 billion of the total issuances in 1Q14 and this is the highest absolute volume for the sovereign sector since 3Q12 when sovereign issuers had generated USD 25.6 billion in raised proceeds, the KFH report noted.
The corporate sukuk issuances share in 1Q14 declined to USD 5.7 billion which represents a 29.8 percent decrease in comparison to USD 8.1 billion volume during 1Q13 and a 57.1 percent decrease in comparison to the record USD 13.29 billion volume during 4Q13.
Among the notable jurisdictions issuing sukuk in 1Q14 included Maldives as a debutant issuer in the global sukuk market with an inaugural 10-year corporate sukuk issuance worth USD 3.9 million, it added. (end) fnk.mt
 Print
  Email
 Save
Share
Share
Honoring Kuwait 2014


KUNA publishes a book titled (His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah: A Humanitarian Leader) to commemorate the UN honoring of Kuwait's leader

kuna magazien


Most Read Most Emailed  
1.   Kuwait, Tajikistan sign visa-exemption deal
2.   Kuwait, Spain discuss economic and investment relations
3.   Kuwait, Cambodia mull bilateral cooperation
4.   Kuwait, Spain mull bilateral cooperation
5.   All KSE indices rise at closing of Sunday's session
6.   Kuwait's participation in Global Entrepreneur Summit successful
    Photo Gallery

Kuwait News Agency Board Chairman and Director General Sheikh Mubarak Duaij Al-Sabah

Kuwait's Ambassador to Cambodia Dhrar Nasser Al-Tuwaijri

consultant to GCC Supreme Council Dr. Abdullah Bishara

First Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah during his departure to Qatar

Kuwait's Ambassador in Seoul Jassem Al-Budaiwi

French President Francois Hollande

President and CEO of EQUATE Petrochemical Company Mohammad Husain

Musaed Ghannam Al-Jumhour, the director of public relations at the ministry

Kuwaiti-funded "Humanitarian Leader" village opened in eastern Turkey

Head of Humanitarian Relief Foundation presents a commemorative gift to Chairman and Amiri Diwan's Advisor Abdullah Al-Maatouq

Chairman and Amiri Diwan's Advisor Abdullah Al-Maatouq

Turkish Prime Minister Ahmet Davutoglu with Kurdistan Regional Government President Massoud Barzani
Publications

WEATHER
PRAYER
CURRENCIES
KUWAIT AIRPORT
    Calendar
About KUNA KUNA SERVICES USEFUL LINKS KUNA ARCHIVE KUNA PUBLICATIONS
Home
About Kuna
Advertise
Contact Us
Kuna's Bureaus
Services
Term Of Use
Read The Whole Newscast
Pictures (during the week)
FTP Service
KUNA training center
KUNA Reader
SMS Services
الكويت فى ذاكرة الأيام
Job Application
Careers
Arab News Agencies
International News Agencies
Governmental Institutes
Banks in Kuwait
News Paper
Local Companies
other useful links
Prayer Times
News Archive
Other News Services
Today In Kuwait's History
Events
Training Sessions
Videos
All KUNA right are reserved © 2012. This site is designed and published by IDS