Sabana Shariah-Compliant Industrial REIT is the sole entity in Singapore to have sold sukuk this year in a setback to the republic’s ambitions to become a Shariah finance hub.
While the city introduced rules allowing for Shariah-compliant bond sales in 2006, offerings have been limited.
And the best news:
“Based on current circumstances, there does not appear to be any reason to expect a pick-up in sukuk.”
