you can now track the sukuk market with this
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

You can now track the sukuk market with this

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice You can now track the sukuk market with this

Ahmed Al Qassim addressing a Press conference in Dubai on Wednesday.
Abu Dhabi - Emirates Voice

Emirates NBD, Dubai's largest lender, announced on Wednesday the launch of a Sukuk Index, covering 98 dollar-denominated sukuks from 61 issuers with a market value of over $90 billion.

The bank said the Emirates NBD Markit iBoxx USD Sukuk index captures sovereign, sub-sovereign and corporate sukuk from emerging and developed markets and will contain investment grade, sub investment grade and unrated securities which offer a broad representation of the global sukuk universe.

"Combining transparency, multi-dimensional analysis, independence and flexibility, the index will provide an accurate and objective benchmark for Islamic finance investors," said the lender.

Developed by Emirates NBD Group in collaboration with IHS Markit, the Emirates NBD Markit iBoxx USD Sukuk Index is a market-cap weighted index dedicated to capturing the performance of the sukuk market.

The banks said the index would be used for benchmarking, risk and performance analysis and as an underlying for tradable products. In order to meet the growing demand for Shariah-compliant solutions, it is envisaged that the Index will be utilised by a range of institutions including asset managers, banks, pensions and sovereign wealth funds and ETF issuers.

Ahmed Al Qassim, chief executive officer of Emirates NBD Capital, said demand for sovereign and corporate sukuk has increased significantly over the last few years attracting significant international capital. "With the launch of the Emirates NBD Markit iBoxx USD Sukuk Index, we aim to provide investors with world-class analysis tools and standardised performance measurement to enable them to make the best investment choices."

The index will also enable the creation of products that will pave the way for greater access to the sukuk market for retail investors who have historically been underserved by opportunities to invest in this asset class.

Tariq bin Hendi, executive vice-president and head of products and advisory at Emirates NBD, said with a strong level of 2017 sukuk issuance from both sovereigns and corporates led by Saudi Arabia and a promising pipeline for the rest of the year, the sukuk index would be a valuable tool for fund managers both within the GCC and further afield.

"From an asset management perspective, we look forward to the product development opportunities the index can provide, creating new avenues for regional and global investors to access the investment opportunities provided by sukuk. We have worked closely with Emirates NBD Capital and the group's research department to develop the Index, and look forward to our continued partnership on this project," said Bin Hendi.

Tim Fox, chief economist and head of research at Emirates NBD, said, the Index would provide an additional avenue for accurate assessment of the overall development and performance of Islamic debt capital markets in the region.

While there is a plethora of indices available for conventional bonds, reliable and easily available sukuk indices are few and far between, said Fox.

"As a leading provider of research in the region, Emirates NBD is committed to providing detail and regular information on the sukuk universe to our ever demanding investor base," said Fox.

"The creation of the Emirates NBD Markit iBoxx USD Sukuk index is an important and timely expansion of our global iBoxx family of bond indices," said Aram Flores, managing director and co-head of Indices at IHS Markit.

"In partnering with Emirates NBD, we are able to leverage relevant market expertise and offer a dedicated index representing the dollar-denominated sukuk market. With growing interest in sukuk, we are confident that the sukuk index as a new, independent benchmark will help a diverse group of investors access this dynamic market," said Flores.

Source: Khaleej Times

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

you can now track the sukuk market with this you can now track the sukuk market with this

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

you can now track the sukuk market with this you can now track the sukuk market with this

 



GMT 05:14 2024 Wednesday ,07 February

Sophisticated Classic Dining Room Design Ideas

GMT 12:47 2017 Thursday ,09 February

Furyk adjusts selection criteria for US Ryder Cup team

GMT 20:08 2017 Monday ,18 September

Dubai needs additional 1,000 hospital beds

GMT 20:13 2017 Tuesday ,19 September

Nadal maintains No.1 spot in ATP rankings

GMT 04:10 2017 Sunday ,24 December

Philippines storm death toll climbs to 182

GMT 12:40 2012 Wednesday ,15 August

Big snow in Eastern US cities

GMT 12:12 2012 Thursday ,17 May

Mark Zuckerberg created a seemingly perfect home

GMT 15:02 2017 Saturday ,17 June

Bahrain, Saudi Arabia, UAE respond

GMT 22:51 2017 Tuesday ,24 January

At least 40 dead in battle for Yemen port

GMT 08:54 2016 Saturday ,17 December

Venezuela cash crisis sparks looting, protests

GMT 21:21 2017 Tuesday ,07 February

Opposition leader says Zambia should stay in ICC

GMT 09:00 2017 Saturday ,07 October

Sarin used in Syria 5 days before Khan Sheikhun

GMT 23:01 2017 Friday ,17 March

Saudi cleric banned from Twitter

GMT 08:05 2012 Saturday ,28 July

2 bombs defused in Aden

GMT 09:02 2017 Thursday ,26 October

Crown Prince briefed on Ministry of Infrastructure
Emiratesvoice, emirates voice
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice