24 Mar '11, 9pm

TODAYonline | Business | Islamic bondshave strong growth potential ...: Analysts say Sukuk or Islamic bonds and

SINGAPORE - With a supportive regulatory and tax framework and proximity to large Muslim populations in its neighbourhood, it is only a matter of time before Singapore becomes a major player in Islamic finance, experts say. Analysts say Sukuk, or Islamic bonds and Syariah-compliant real estate investment trusts, are two products that have strong growth potential in Singapore. Malaysia's CIMB is among nine international Islamic financial institutions that are now operating in Singapore. So far, CIMB Bank Singapore has sponsored four Sukuk issues worth more than S$1.5 billion. Mr Devan Selvanathan, Director, Debt Capital Markets & Syndicate, CIMB Bank Singapore, said it is looking to create within South-east Asia, an Islamic financial market that is competitive and can bring overseas issuers to Singapore. One reason behind Singapore's success in Islamic finance is the Moneta...

Full article: http://www.todayonline.com/Business/EDC110325-0000092/Isl...

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