Standardisation and Harmonisation Will Propel the Sukuk Market Forward
Published: 14 February 2018 02:47
Almost 20 years ago, global fixed income investors scarcely heard of the word ‘sukuk’, let alone understood the asset’s unique structural features or benefits. Much has changed since, with the global sukuk issuance topping USD74.8bn at the end of 2016. But with the asset class’ impressive growth being hamstrung by liquidity shortages and a lack of global standards, the development and proliferation of those standards – and a protracted effort on behalf of market makers to harmonise those standards – is needed to help take the market to the next level.