GCC Credit Market Update
Article Overview
In its monthly update, Kuwait based Rasameel provides recent updates as the Sukuk market displayed signs of increased activity. Sukuk represent $288 Billion of the wider $1.66 Trillion Islamic finance market.
Recent Sukuk Issuances
Details of recent Sukuk issuances by Governments of Malaysia, and Central Bank of Turkey.
Report Coverage
Market commentary
- Abu Dhabi’s NPCC eight year AED2.2m loan
- Saudi Aramco seeking USD10bn RCF
- Emirates Airlines hiring banks for sukuk issuance of USD1bn
- NBAD successfully issuing a 5 year USD750m bond
- Credit growth in Kuwait rising to 6.2% year on year
- Qatar’s money supply back on track in Q4 2014
- Oil price decline to tighten bank liquidity
- Qatari Banking sector loan book contracted in January 2015
- QIIB seeks approval for sukuk issuance
- S&P: UAE banks profit growth to dip in 2015
- Saudi Arabia private sector credit grew by 12.6% annually
- ENOC, QNB and Meraas sign loan derals
- FGB issues a dollar denominated sukuk
Sukuk issuances by volume declined significantly in the month of February 2015, down by 92% y-o-y and 93% m-o-m to USD0.1bn. There were only two short term sovereign issuances from the Central bank of Bahrain. Sovereign comprised 55% of the total issuance volume for YTD February 2015(USD2.2bn),followed by corporate at 45% and there have been no quasi-sovereign issuances in 2015.
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GCC Market Update February 2015 (810KB)
