CAPITAL MARKETS - Sukuk income to be injected to giant projects

www.invest.gov.tr  -Hurriyet - According to the bankers, Turkey will secure financial resources from a brand-new sector with its new Islamic banking product and that the country can finance mega-projects such as the construction of the third bridge with this income. The total volume of global sukuk issuance was around USD 90 billion in 2011, whereas the same amount was achieved during the first six months of this year. Meanwhile, Qatar hit a record issuance worth a total of USD 4 trillion in July, and the size of the Islamic financial services sector is expected to reach USD 2.8 trillion by 2015. Turkey, which has so far lagged behind in the sector, is now taking the first step to close the gap. (source)

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)