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Money market

Global Islamic bond issuance slips in first half

Malaysia's leadership position threatened by Indonesia and other countries

Malaysia's leading position as an issuer of Islamic bonds, or sukuk, is slipping.   © Reuters

KUALA LUMPUR -- The total global issuance of Islamic bonds, known as sukuk, dropped 5.2% on the year to $50.3 billion during the January to June period due to declines in Middle Eastern countries, according to a Malaysian ratings agency.

RAM Ratings said the decrease was largely attributable to Qatar, Saudi Arabia and Turkey, some of which were weighed down by budget tightening that affected sovereign sukuk issuance.

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