Sharjah Islamic’s $500m bond to tap high market liquidity
Sharjah Islamic Bank's investors want to sell as much as $500 million (Dh1.8 billion) of sukuk.
Bloomberg's dates show that sales of Islamic bonds from the six-member Gulf Cooperation Council (GCC) slumped 58 per cent to $964 million so far this year, compared with the same period of 2010.
The HSBC/Nasdaq Dubai GCC Sukuk Financial Services US Dollar Sukuk Index reveales yields on Islamic bonds of GCC financial services groups fell to a record 3.29 per cent on May 5. The rate was at 3.33 per cent Thursday.