Gulf capital market regulators underscored this week the actions they have taken to stimulate the region’s bond and sukuk market. The announcements came as The Gulf Bond and Sukuk Association (GBSA), the trade association representing the Arabian Gulf fixed income market, gathered industry leaders and government regulators at its Regional Debt Capital Market Summit at The Ritz Carlton, DIFC in Dubai.
GBSA’s summit was attended by more than 200 executives from leading companies, international and regional investors, market participants and government officials as well as senior representatives of the capital market regulators of Oman, Kuwait, Saudi Arabia and the United Arab Emirates.
The regulators announced several initiatives that will streamline access to their markets for issuers and investors.
Ali al Khalil, Chief Operating Officer, Kuwait Financial Centre-MARKAZ delivered the keynote address in which he said, “The region has plans for projects worth $2.6 trillion in the near future. Even if half of these projects come to realisation, the funding requirement will be approximately 100 per cent of GDP, requiring further issuances of debt securities”.
Andy Cairns, Group Head of Corporate Finance, First Abu Dhabi Bank and Chairman of the GBSA Regional Board of Directors said: “GCC capital markets have never been busier with 2017 Bond and Sukuk issuance exceeding syndicated loan volumes for the first time. GBSA is championing this development and it was reassuring to hear from today’s event speakers that there is consensus on a continuing positive outlook for the region’s capital markets. GBSA is playing a leadership role as an association at this exciting time”.
Panel discussions covered the funding environment for companies, global investors’ views on the region, introducing more structured bonds, the outlook for market liquidity, financing green investment and current issues in the sukuk market.
The Gulf Bond and Sukuk Association (GBSA) is the regional trade association representing the Arabian Gulf bond and sukuk market.
GBSA’s initiatives bring together leaders of the regional credit markets to create a collective and effective voice on the key issues affecting the industry. Member firms are leading banks, investment banks, issuers, investors, asset managers, law firms, rating agencies and service providers.
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