Commerzbank Sees Islamic Market Vexing Babacan: Turkey Credit
19 Sep 2013 07:24 GMT
 
Turkey should consider selling more Shariah-compliant sovereign debt as a syndicated Islamic loan taken by the local unit of a Bahrain bank signals st (more)

Turkey should consider selling more Shariah-compliant sovereign debt as a syndicated Islamic loan taken by the local unit of a Bahrain bank signals strong demand, according to Commerzbank AG.

Investors in Gulf Cooperation Council countries would be lured to such a sale, Apostolos Bantis, a credit analyst at the bank in London, said in an e-mail interview. There is still "plenty of liquidity" in the market amid concern about the pace that the Federal Reserve will trim its stimulus program and the emerging-market selloff that began late May, he said.

"Turkey would not have a hard time issuing new paper," Bantis said yesterday. Investors in GCC countries "seem to have faith in Turkey's potential, they just want to get a bit higher spread."


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