Saudi regulator says aims to expand sukuk marketIslamic Finance - Zawya
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Saudi regulator says aims to expand sukuk
market
Photo Credit:Reuters/Ben Job
RIYADH, Sept 8 (Reuters) - Saudi Arabian authorities intend to expand the country's market in
Islamic bonds by making it easier for companies to issue sukuk, the head of the Capital Market
Authority said on Sunday.
"We are not satisfied with the current situation of the sukuk market. It does not exceed 3 percent of
gross domestic product," while overseas debt markets can account for 50 to 100 percent of GDP, said
Mohammed bin Abdulmalik Al al-Sheikh.
He said most Saudi companies were at present finding it considerably easier to raise bank loans than
to issue sukuk in the public market.
"We are working on improving debt facilities. We are currently conducting a study and once we finalise
it, we will announce the results," Al-Sheikh said at a securities industry conference, without elaborating
on the planned reforms.
(Reporting by Marwa Rashad; Editing by Andrew Torchia)
http://www.zawya.com/story/Saudi_regulator_says_aims_to_expand_sukuk_market-TR20130908nL5N0H40822/
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Saudi regulator says aims to expand sukuk marketIslamic Finance - Zawya
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Keywords: SAUDI SECURITIES/SUKUK
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