GCC aggregate Bonds, Sukuk market up 4pc

Kuwait City

Trends pertaining to bonds and Sukuk issuances in the GCC region during 2017 have been highlighted in the latest report by Kuwait Financial Centre ‘Markaz’, GCC Bonds & Sukuk Market Survey. The report stated that the aggregate primary issuance of bonds and Sukuk by GCC entities, including Central Banks Local Issuances, GCC Sovereign and Corporate Issuances, totalled $174.17 billion in 2017, a 3.96 per cent increase from the total amount raised in 2016. Central Bank Local Issuances are Fixed Income securities issued by GCC central banks in local currencies and with short maturities for the purpose of regulating levels of domestic liquidity. During 2017, a total of $69.90 billion was raised by the GCC central banks, namely by the Central Bank of Kuwait, Bahrain, Qatar, and Oman. (The only publically available information is from the Central Bank of Bahrain, the Central Bank of Kuwait, the Central Bank of Oman, and the Central Bank of Qatar). The Central Bank of Kuwait raised the highest amount with KWD 10.93 billion ($36.179 billion), representing 51.76 per cent of the total amount raised by CBLIs through 70 issuances, followed by the Central Bank of Bahrain, which raised a total of BHD5.39 billion ($14.33 billion). The GCC Bonds and Sukuk market is composed of bonds and Sukuk issued by GCC Sovereign, corporate entities and financial institutions, for financing purposes in local and foreign currencies.—Agencies

 

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