FINANCIAL MARKETS - Jakarta Futures Exchange to create sharia products

JAKARTA: PT Jakarta Futures Exchange (JFX) is targeting to launch sharia futures commodity products (murabahah) in July 2011.

“Six months since January, you will see clearly of what murabahah products we are will launch,” said Director of BBJ Bihar Sakti Wibawa at a press conference in Jakarta this afternoon.

According to him, the company had just set up a partnership to create sharia products with National Sharia Council (DSN) last December.

SUKUK - Sovereign Islamic bonds from Asia to the Persian Gulf are beating returns on corporate sukuk for the first time in three months as accelerating economic growth and rising oil revenue shore up state finances

Sovereign Islamic bonds from Asia to the Persian Gulf are beating returns on corporate sukuk for the first time in three months as accelerating economic growth and rising oil revenue shore up state finances.

SUKUK - Sukuk Four-Year Low Yields Fail to Deter Funds: Islamic Finance

Aug. 20 (Bloomberg) -- Islamic bond yields at four-year lows are failing to deter investors amid a flagging global recovery and dwindling new issuance of sukuk.

The average yield on dollar-denominated notes that comply with religious principles from Dubai to Malaysia fell 25 basis points, or 0.25 percentage point, so far this week to 5.22 percent, the lowest level since November 2005, according to the HSBC/NASDAQ Dubai US Dollar Sukuk Index. The yield has dropped 204 basis points this year.