The Islamic bond market is expanding rapidly due to large liquidity inflows and large and growing Muslim populations worldwide, according to Shayne Nelson, global head and CEO of Standard Chartered Private Bank.
In an interview with the JoongAng Ilbo and Korea JoongAng Daily during his visit to Seoul last week, Nelson said that Muslim countries now prefer Islamic sukuk bonds over conventional bonds and western companies are consequently issuing sukuk bonds to widen their access to capital sources.
The Singapore-based banker previously worked in the UAE and is also chairman of Standard Chartered Saadiq Islamic Banking.
The issuance of the Islamic bonds by Korean companies has recently been at the center of controversy as some Christian groups are lobbying to block legislation that would promote the practice.
http://joongangdaily.joins.com/article/view.asp?aid=2933096
In an interview with the JoongAng Ilbo and Korea JoongAng Daily during his visit to Seoul last week, Nelson said that Muslim countries now prefer Islamic sukuk bonds over conventional bonds and western companies are consequently issuing sukuk bonds to widen their access to capital sources.
The Singapore-based banker previously worked in the UAE and is also chairman of Standard Chartered Saadiq Islamic Banking.
The issuance of the Islamic bonds by Korean companies has recently been at the center of controversy as some Christian groups are lobbying to block legislation that would promote the practice.
http://joongangdaily.joins.com/article/view.asp?aid=2933096
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