SOV­ER­EIGN SUKUK IS­SUE EX­PECTED?

Qatar Today - - BUSINESS -

has quoted sources close to govern­ment on the pos­si­bil­ity of the im­mi­nent is­sue of sov­er­eign sukuk to shore up the up­com­ing bud­get deficit. Anony­mous sources have told the news agency that Qatar will re­turn to in­ter­na­tional debt mar­kets af­ter the an­nounce­ment that a QR46.5 bil­lion ($12.8 bil­lion) deficit in 2016. The sources also men­tioned that talks are un­der­way with a small group of banks to se­lect ar­rangers for the first of th­ese deals and the first dol­lar­de­nom­i­nated sukuk may be is­sued as early as March or April. This would be the first time Qatar would be tap­ping the debt mar­ket since July 2012, when it priced a $4 bil­lion two-part sukuk is­sue. The source added that a sukuk is­sue would be the most likely route for a govern­ment debt is­sue, be­cause the liq­uid­ity in the Is­lamic bank­ing sys­tem was bet­ter than within the con­ven­tional bank­ing mar­ket.

Newspapers in English

Newspapers from Qatar

© PressReader. All rights reserved.