Stella Cox, Managing Director of DDCAP Group, participated in the 10th Anniversary Experts Panel Discussion on ‘Current Developments and Future Trends in the Sukuk market’ at the 2016 London Sukuk Summit on the 25th May 2016.
Given the current macro-economic market conditions, Sukuk issuances declines in 2015 to around US$64.3 billion, down from the US$118.8 billion in 2014 and the record US$131.2 billion in 2012 respectively. But the figures for the first four months of 2016 encouragingly show issuances of US$30 billion, which is almost half of the issuances in the whole of last year.
The Sukuk market is starting to gain its traction as both sovereigns and corporates are returning to the market to raise funds. DDCAP’s Stella Cox reiterated that there is good potential for corporate Sukuk issuances in the UK, especially in urban generation projects, and the CityUK, whose Islamic Finance Committee Ms Cox Chairs, together with the British Government, are both stepping up their efforts to attract Shariah-compliant foreign investment into the UK, especially from Malaysia and the GCC countries.
