The Sukouk (Shariah-compliant bonds) market was in boom over the last three years and attracted much interest on global scale as issues peaked in 2007 in both number and volume of issues, a corporate figure told KUNA here on Monday.
The Chairman and Managing Director of Liquidity Management House, Emad Al-Monayea, said the company aims to bolster the Sukouk market on local, regional, and global scale and was in the process of gaining firm foothold in both the Malaysian and Singaporean markets, two main Islamic-finance markets.
The company is wholly owned subsidiary of Kuwait Finance House.
Al-Monayea remarked the Sukouk market has an advantage over regular bonds as it has asset support. The current boom in the Islamic financing and banking industry is also bolstering its performance.
The figure said the company is seeking strategic partnerships globally and expressed hope the Central Bank of Kuwait show more support to Islamic banking and institutions pursuing that line of business. He also urged legislation to render the Kuwaiti market Sukouk-attractive.
Al-Monayea is to give an introductory seminar here Tuesday and a similar one in Singapore the following day on the company's objectives in these two markets, in presence of Kuwaiti officials and corporate representatives of the home states.
From Kuwait News Agency
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