Sukuks to face challenging year ahead, say analysts

Emirates Business 24/7:Sukuk market has witnessed a dramatic decline during 2008, especially during the fourth quarter and this year is not expected to be much better, says the Islamic Finance Information Service (Ifis).

According to figures provided by Ifis, Islamic bond issuance grew enormously between 2004 and 2007, with total issuance growing year-on-year by 49 per cent in 2005, 153 per cent in 2006 and 79 per cent in 2007. In 2007 sukuk issuance hit a record of $46.65 billion (Dh171bn)...Continue Reading