GCC bond, Sukuk markets im­prove in Q1

Pakistan Observer - - ISLAMIC BANKING & FINANCE -

RIYADH—The GCC bond and Sukuk markets have im­proved in Q1 2016 com­pared to Q4 2015 ir­re­spec­tive of over­all ac­tiv­ity re­main­ing muted, PwC said in a new re­port. “We saw some pos­i­tive sen­ti­ment to­wards the end of the quar­ter, how­ever in­vestors re­main price sen­si­tive and sus­cep­ti­ble to chal­leng­ing mar­ket con­di­tions, and there­fore bond and Sukuk pric­ing was higher, gen­er­at­ing ad­di­tional chal­lenges when pric­ing and clos­ing trans­ac­tions. In fact sev­eral com­pa­nies put on hold or de­lay their Sukuk/ bond rais­ing as­pi­ra­tions for pric­ing rea­sons,” the re­port said. In sov­er­eign is­suances, the Cen­tral Bank of Kuwait and the Cen­tral Bank of Bahrain were the most ac­tive play­ers dur­ing this quar­ter. The Cen­tral Bank of Bahrain is­sued 10 trea­sury bills each worth $ 184 mil­lion (BD 70 mil­lion) with ma­tu­ri­ties of three months, three trea­sury bills each worth $92 mil­lion (BD 35 mil­lion) with ma­tu­ri­ties of six months and one trea­sury bill worth $526 mil­lion (BD200 mil­lion) with a ma­tu­rity of one year. The is­suances with three month ma­tu­ri­ties from the Cen­tral Bank of Kuwait amounted to $2.6 bil­lion (KWD 775 mil­lion).—SG said on Wed­nes­day, as part of a gov­ern­ment drive to be­come a pow­er­house in Is­lamic fi­nance. Sim­sek said the new lender

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.