As Saudi Arabian authorities prepare to open the stock market to direct foreign investment this month, they're laying plans for a fresh set of reforms: measures to expand and energise the corporate debt market.
Sharjah has no short-term plans to return to debt markets after drawing big demand for its $750 million debut sukuk issue, the director of its debt management office told Reuters on Thursday.
"We do not have any short-term pl
The GCC debt markets experienced modest growth in the first quarter of 2014 on weaker private sector issuance and large maturing sovereign debt, said a report.
Sovereign GCC yields have declined over the last quarter on the back o
After years in which the growth of Saudi Arabia's bond market lagged its economy, the market is taking off as local companies rush to issue debt - though low returns are keeping foreign investors on the sidelines.
Gulf bonds will attract large flows of investment from outside the region next year because of their growing diversity and an increasingly active secondary market, said an expert in the industry.
Traditionally, bonds from issuers
An advisor to Goldman Sachs has defended the US bank's $2 billion Islamic bond programme against criticism it may contravene religious principles.
In October, Goldman registered the sukuk programme with the Irish Stock Exchange.
Abu Dhabi's Union National Bank (UNB) will aim to price a benchmark-sized five-year dollar-denominated bond this week, as Middle Eastern issuers spot a window in volatile economic conditions to return to the debt market.
The bank has m
The United Arab Emirates needs to double efforts to create a local market for government and corporate bonds, Central Bank Governor Sultan Nasser Al-Suweidi said.
"When it comes to adequacy and quality of capital, we don't have any difficu
Ireland will resume borrowing as soon as investors feel more comfortable about its fiscal goals and prospects for other peripheral euro zone countries, the Irish debt management agency said.
Under an 85 billion euro ($110 billion) EU/IMF b
The United Arab Emirates Central Bank wants bankers to work out a plan for developing a local debt market to allow business to raise funding locally and complement an existing equity market.
In a circular sent to banks last week, the UAE C