The GCC debt market is well performing despite the period of Ramadan as this year Ramadan started before the summer holidays. Doug also commented on the dominance of bond versus sukuk issuance in 2016 in the GCC region. GCC countries needed to tap the deep pools of liquidity available in European, Asian and US markets and therefore it made sense to issue conventional paper rather than sukuk which would have been taken up by regional accounts which would not improve the liquidity situation in the region. He added that liquidity situation in UAE is better compared to year-end 2015, due to the higher oil prices
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