Thursday, September 21, 2006

Islamic bond market to expand with future entrance of Gulf oil firms

"ANALYSIS-Islamic bonds may get a lift from Gulf oil firms", MSNBC, September 20, 2006

According to Reuters, the issuance of Islamic bonds (sukuk) will see a large increase in the next few years as Gulf oil companies use sukuk instead of conventional means of financing. Saudi Aramco, the Saudi oil producer is planning US$50 billion in investment over the next few years and may fund some of that through sukuk issue. The government of Qatar is thinking about issuing US$60 billion in sukuk to finance energy projects by 2010.

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