Gulf Arab companies plan sukuk as cost rises

The political conflict in the Middle East will make it more expensive for companies in the Arab Gulf such as First Gulf Bank PJSC and Masraf al-Rayan to issue Islamic bonds as relative yields hold near the highest level in more than three months.
First Gulf plans to sell bonds or sukuk this year. Masraf said March 15 it will seek shareholder approval to issue as much as $1 billion of Shariah-compliant debt.

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