Bahrain-based asset manager GFH Financial Group (GFH) has partnered with Credit Suisse on the launch of a US$100 million sukuk fund.
The fund will comprise sovereign, quasi-sovereign and corporate sukuk from issuers primarily based in the GCC.
Credit Suisse will provide fund administration and financing services.
The global sukuk market is expected to grow in 2022 according to a recent report from Fitch Ratings which cited “robust Islamic investor appetite” as a primary driver.
“The market is becoming more bouyant as economies in the GCC recover amid a revival of key sectors,” said Salem Patel, head of asset management at GFH.
“Global borrowers have issued more than $23 billion of sharia-compliant debt in 2021 and global sukuk supply is expected to accelerate in 2022.”
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