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, added: “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. This release follows GBSA’s recently published Gulf standards for debt investor relations.
The GBSA says it will register periodically re-examine instruments and practices to ensure they reflect market developments.
The Gulf Bond and Sukuk Association (GBSA) is the regional trade association representing the Arabian Gulf bond and sukuk market.
The group 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, Al Ruwayeh & Partners, Barclays Bank, Bennett Jones (Middle East), BNY Mellon, Citibank, Crédit Agricole, Corporate & Investment Bank, Emirates-NBD, Euroclear Bank, First Gulf Bank, HSBC Bank Middle East, CAP_Gulf Investment Corporation, ICE Canyon, KIPCO Asset Management Company, Kuwait Financial Centre SAK (Markaz), Kuwait Projects Company, Latham & Watkins, Mashreq Capital, Moody’s Investors Service, National Bank of Kuwait, Pinebridge Investments, Qatar Islamic Bank, Qinvest, Qatar Telecom, Standard Chartered Bank, Standard & Poor’s and The National Commercial Bank
