The value of bonds and sukuk issued by GCC entities during H1 2015 amounted to $48.13 billion, down by 15.19 per cent from the same period in 2014.
This is according to a report issued by Kuwait Financial Centre (Markaz) and titled GCC Bonds & Sukuk Market Survey. The study highlights the trends pertaining to issuances in the GCC region during H1 2015, reports Kuwait-based Alrai.
The report adds that during the first half of 2015, central banks in Kuwait, Bahrain, Qatar and Oman raised a total of $28.29bn, pointing out that the Central Bank Local Issuances are fixed-income securities issued by GCC central banks for the purpose of regulating levels of domestic liquidity.
The Central Bank of Kuwait raised $12.85bn through 36 issuances. This accounts for 48.8 per cent of the total GCC Central Banks Local Issuances, adds the report.
In second place came the Central Bank of Bahrain raising a total of $6.69bn, up by 47.13 per cent when compared with the $4.55bn raised in H1 2014.
($1=AED3.67, at the time of publishing)