CAPITAL MARKETS - Turkey takes first steps to Sukuk

www.cpifinancial.net - A statement from the Undersecretariat of the Treasury in Turkey said, “Citigroup, HSBC and Liquidity House (a Kuwait Finance House subsidiary) have been mandated to explore opportunities for a possible Lease Certificate issuance in the international capital markets.” (source)

CAPITAL MARKETS - Sukuk market needs 3 yrs to turn Noor Islamic chief says market now is shrinking - mandate from Bank Asya

Noor Islamic Bank does not expect the Islamic bond market to turn around for another three years, given the financial and political uncertainty in the region, its chief executive said on Wednesday.

"What you see in the sukuk market right now is not growing but I think it is shrinking a little bit in comparison to years before," Hussain Al Qemzi said in an interview. "I see three years before we see an upward trend in sukuk. We will see a stronger comeback afterwards." (source)