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CMA eyes expansion of Saudi sukuk market

Saudi Arabia's Capital Market Authority (CMA) has said it plans to expand the country's market in Islamic bonds by making it easier for companies to issue sukuk, Reuters has reported. "We are not satisfied with the current situation of the sukuk market. It does not exceed 3% of gross domestic product," while overseas debt markets can account for 50 to 100% of GDP, said head of the CMA, Mohammed bin Abdulmalik Al al-Sheikh.