INVESTMENT BANKING | Cesar Tordesillas, Korea

Sukuk fever reaches Sokor

From the Middle East to London, to New York, and now to South Korea.

Like a freight train, the sukuk’s popularity is unstoppable, merely taking station stops, which for now is in South Korea.

This is after Malaysia's RHB Investment Bank announced that it will launch a $139.5 million-$279.1 million Islamic bond issue for South Korean oil firm GS Caltex next month.

"We have seen quite a bit of interest for the sukuk already, from the Middle East, London and New York," the bank's managing director Chay Wai Leong was quoted as saying by the Edge Financial Daily.

Leong said that the issuance would be a multi-currency sukuk.

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