Islamic bonds are tumbling, sending Arabian Gulf yields to a six-week high, as concern political unrest in Egypt will spread pushes up the cost of crude and threatens the global economic recovery.
Moody’s Investors Service cut Egypt’s credit rating yesterday to two levels below investment grade. The nation plans to issue guidelines this year to pave the way for the country’s first sale of Islamic bonds.
http://www.arabianbusiness.com/gulf-sukuk-sink-as-egypt-turmoil-cuts-demand-377850.html
