The observations in the report, based on
"Islamic economy has become increasingly relevant in the modern world, offering new hopes of revival for the fragile global economy. The 10th
"The Dubai Chamber research note highlights the Sukuk market as one of the most attractive areas of Islamic finance that has attracted considerable interest from the business community worldwide. In addition, the Sukuk market has remarkable growth avenues that can be effectively tapped to support the growing investment requirements in various sectors,"
While the GCC and
However, Sukuk issuance is not limited to Islamic countries. In 2014, a number of high profile debut sovereign issuances are expected to take place in countries such as the
According to the Dubai Chamber research note, global financial assets are dominated by Islamic banking assets, which accounted for about 80 percent of the total assets in 2013 while Sukuks made up just 15 percent of the market. However, the good news is that Sukuk bond issuance has significantly grown over the last decade. The Dubai Chamber report, citing data from Rasameel Structural Finance, shows that the issue of Sukuk bonds has registered cumulative annual growth rate of about 47 percent over the period 2001-13.
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