GCC bonds and Sukuk Market Report 2016

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The Aggregate GCC Bonds and Sukuk market remained strong in 2016 while witnessing a substantial increase in activities, stemming mainly from an urgent.....

Summary

The Aggregate GCC Bonds and Sukuk market remained strong in 2016 while witnessing a substantial increase in activities, stemming mainly from an urgent need to plug the GCC countries budget deficits due to persistently low oil prices. The strong credit quality and low government debt enabled GCC governments to raise debt in the international market.

A total of USD167.54 billion was raised in aggregate through the primary market, an increase of 41.20% in comparison to USD118.6 billion raised in 2015. GCC Central Banks (except for UAE and KSA) raised a total of USD65.104 billion through local issuances to manage liquidity during the year noting a growth of 21.69% versus the previous year. The sovereign issuances by GCC countries increased considerably, totaling to USD65.82 billion as compared to USD37.95 billion in 2015. The total value raised by corporate entities in the GCC increased by 34.62% from USD27.196 billion in 2015 to USD36.613 billion in 2016. As of 31st December 2016, the total outstanding amount of sovereign and corporate issues in the Bonds and Sukuk market was USD352.080 billion.

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GCC bonds and Sukuk Market Report 2016

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