GBSA Publishes Compendium of GCC Local Currency Government Markets
DUBAI, 15 December, 2011 - The Gulf Bond and Sukuk Association (GBSA), the industry association representing the Arabian Gulf debt capital market, has today released a detailed compendium of the nascent markets for local currency government-issued instruments. This is the first collection of its kind in the Gulf region.
The summary was compiled with the contributions from many of its member institutions across the Gulf region.
The document gathers in one place for the first time all of the conventional and Islamic Treasury Bills and Bonds, Certificates of Deposit and other instruments available in local money and capital markets.
Dilshan Hettiaratchi, Chairman of GBSA’s Government Issuance Committee said, “Local currency government debt markets have to date played a limited role in the Gulf. We encourage their development because they are the basis for local yield curves which help all across the economy.”
Michael Grifferty, President of the GBSA, commented, “We expect that this first document will become a reference for market participants across the region and will draw additional attention to the potential for GCC local currency markets.”
This publication is one of a series of steps taken by the GBSA to speed the growth of regional debt capital markets.
The register of instruments and practices will be periodically re-examined by the GBSA to ensure it reflects market developments.
This release follows GBSA’s recently published Gulf standards for debt investor relations.
To obtain a copy of the new GBSA GCC local currency compendium or the investor relations standards, contact GBSA at the details below.
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NOTE FOR EDITORS:
The Gulf Bond and Sukuk Association
The Gulf Bond and Sukuk Association (GBSA) is the regional trade association representing the Arabian Gulf bond and sukuk market. GBSA harnesses the commitment of its stakeholders to promote a wide and deep market on the basis of international best practices as adapted to the Arabian Gulf region.
The members of GBSA are:
Al Bashayer Investment Company
ASAR - Al Ruwayeh & Partners
Barclays Bank Plc
Bennett Jones (Middle East) LLP
BNY Mellon
Citibank
Crédit Agricole - Corporate & Investment Bank
Emirates-NBD
Euroclear Bank
First Gulf Bank
HSBC Bank Middle East
ICAP
Gulf Investment Corporation
ICE Canyon
KIPCO Asset Management Company
Kuwait Financial Centre SAK (Markaz)
Kuwait Projects Company
Latham & Watkins LLC
Mashreq Capital
Moody’s Investors Service
National Bank of Kuwait
Pinebridge Investments
Qatar Islamic Bank
QInvest
Qatar Telecom
Standard Chartered Bank
Standard & Poor’s
The National Commercial Bank
For further information please contact:
Michael P. Grifferty Nicholas McDonagh
President RLM Finsbury
The Gulf Bond and Sukuk Association Telephone: 971.50.457.2394
Telephone: 971.4.401.9944
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Mobile: 971.50.668.1950
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www.gulfbondsukuk.com
