12 / 247
viii
Chart 4.33: Indonesia’s Sovereign Sukuk vs Conventional Issuance (2006-June 2017) 122 Chart 4.34: Indonesian 10-Year Sovereign Bond Yield 122 Chart 4.35: Indonesia’s Sovereign Sukuk vs Conventional Outstanding (2006-June 2017) 123 Chart 4.36: Indonesia’s Corporate Sukuk vs Conventional Issuance (2006-June 2017) 124 Chart 4.37: Indonesia’s Corporate Sukuk vs Conventional Outstanding (2006-June 2017) 124 Chart 4.38: Indonesia’s Outstanding Capital Markets vs Bank Financing Relative to GDP 125 Chart 4.39: Indonesian Sovereign Sukuk Issuance – Type of Shariah Contract (2008-2016) 126 Chart 4.40: Indonesian Corporate Sukuk Issuance – Type of Shariah Contract (2008-2016) 126 Chart 4.41: Development of Indonesia’s Domestic Corporate Sukuk (2002-2016) 128 Chart 4.42: Investor Mix for LCY Government Bonds 132 Chart 4.43: Indonesian Retail Sukuk Issuance (2009-June 2017) 132 Chart 4.44: Factors Influencing the Development of Indonesia’s Domestic Sukuk Market 135 Chart 4.45: Turkey’s Outstanding Capital Markets vs Bank Financing Relative to GDP 140 Chart 4.46: Turkey’s Sukuk Issuance vs Global Sukuk Issuance (2011-June 2017) 141 Chart 4.47: Turkey’s Gross Public Sector Debt (2001-2016) 142 Chart 4.48: Turkish Private Sector’s Conventional vs Sukuk Issuance 143 Chart 4.49: Turkey 10-Year Sovereign Bond Yield 147 Chart 4.50: Turkey’s Historical Savings (as a Percentage of GDP) and Savings Rates 149 Chart 4.51: Domestic Government Debt – Classification by Holder (2006 To 2016) 151 Chart 4.52: Factors Influencing the Development of Turkey’s Sukuk Market 154 Chart 4.53: Bond Issuance in Hong Kong (2006-June 2017) 158 Chart 4.54: Factors Influencing the Development of Hong Kong’s Sukuk Market 167 Chart 4.55: Market Capitalization as a Percentage of GDP 169 Chart 4.56: Nigeria’s Sukuk Issuance vs Africa’s (2008-October 2017) 171 Chart 4.57: Nigeria’s Outstanding Public Debt (2012-2016) 174 Chart 4.58: Size of Capital Markets in Nigeria (2014-2016) 175 Chart 4.59: Nigeria’s Money-Market Indicators in August 2017 176 Chart 4.60: Nigerian 10-Year Sovereign Bond Yield 177 Chart 4.61: Factors Influencing the Development of Nigeria’s Sukuk Market 180 Chart 5.1: Key Building Blocks in Developing the Sukuk Markets in OIC Countries 182