Kuala Lumpur
MALAYSIAN sovereign sukuk's inclusion in a global bond index is forecast by Barclays Plc to lure US$3 billion, helping to narrow the debt's yield premium over non-Islamic notes.
The nation's Shariah-compliant government investment issues will be added to Barclays Global Aggregate Index on March 31 with a weighting of 0.18 per cent, the UK lender said Jan 13, estimating it would attract at least US$2.5 billion to US$3 billion. The average yield on 10-year Malaysian sovereign sukuk is 4.23 per cent, compared with 3.93 per cent for non-Islamic notes of the same maturity, Bank Negara gauges show.
"Barclays' move will help narrow the premium between the conventional and Islamic notes," Azidy...
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