The lure of Islamic bonds appears to be wearing off for borrowers in the Persian Gulf region, with high-profile defaults and rising costs souring their appeal.
“Dealing with Sukuk defaults, standardizing Shariah interpretation, and increasing Sukuk liquidity, we believe, are at the root of issues that could curb future growth,” said Mohamed Damak, analyst for Standard & Poors in a recent report.
http://www.a1saudiarabia.com/Sukuks-lose-shine-on-high-profile-defaults/
