The Role of Sukuk in Islamic Capital Markets
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A review of the investors of the GCC’s recent bond issuances (including sukuk) shows a high
reliance on foreign investors. Amid negative or near-zero bond yields in the UK, euro zone and
Japan, these investors have been attracted to the bond yields offered by the Gulf region. This is
evident from the size of the order books of selected GCC bond issues in 2017 and pricing levels
(refer to Figure 3.7).
Figure 3.7: Selected GCC Credits’ Order Books, Pricing Dynamics and Investor Profiles