Higher oil prices lead to drop in GCC sukuk issuance in first half

Higher oil prices have reduced sovereign funding needs in the GCC countries in the first half, leading to flat or slightly lower global sukuk issuance this year, Moody’s Investors Service said in a report on Tuesday.

The adoption by the UAE of certain Shariah-compliance standards (the Accounting and Auditing Organization for Islamic Financial Institutions’ Sharia Standard 59) has also slowed issuance of sukuk from the Gulf, according to Reuters quoting unnamed sources.

Read more https://www.khaleejtimes.com/business/markets/higher-oil-prices-lead-to-drop-in-gcc-sukuk-issuance-in-first-half

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