Global sales of so-called sukuk increased to $20.2 billion last year from $14.1 billion in 2008, according to data compiled by Bloomberg. Sales total $705 million this year.
CAGAMAS BHD.: Malaysiaâs biggest buyer of home loans plans to issue more Islamic bonds after selling 380 million ringgit ($112 million) of sukuk on Feb. 23. It also plans to reintroduce mortgage-backed bonds as the countryâs economy recovers, the Business Times reported. The company may raise as much as 12 billion ringgit from bond sales this year, the newspaper reported March 1, citing Chief Executive Officer Steven Choy. Cagamas is rated AAA by Rating Agency Malaysia Bhd.
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