Korean sukuk interest fades as parliament procrastinates

03 Dec 2009

Korean banks and lawyers this week expressed scepticism about the immediate prospects for Islamic bond issues from the country, citing delays in legislation and a loss of issuer interest in the product.

The Korean parliament is considering an Islamic bond law which bankers thought could open up the Islamic bond market to Korean borrowers by as early as February. But that now looks far too ambitious.

"Everybody thought the law would be passed in December, but there are too many complex ...

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