Barwa Bank Group, Qatar’s Shariah-compliant banking service provider, has said that its sukuk trading platform will become full-fledged by the end of 2013.
Active in both the primary and secondary sukuk markets, Barwa Bank started to act as a custodian for some of the clients, according to Barwa Bank chief investment officer and group treasurer, Bashar Jallad.
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Jallad said, "The sukuk market is limited but in the last couple of years we have seen quite a decent pipeline of issuances. There is a lot of appetite for Shariah-compliant products here.
"Fixed income has become a "very good trend" for most financial institutions to invest their money, in order to benefit from the higher yield provided by it as an alternative to deploying funds in the normal money market."
Jallad said Barwa Bank’s sukuk trading platform is already functional but has not reached the optimum level, and the lender is aiming for customers to see it as a "one-stop-shop".
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By GlobalData
