SUKUK PIPELINE - Issue plans around the world

The Thomson Reuters Global Sukuk Index is at 118.04136 points, down from 118.42537 at the end of last month but up from 115.79726 at the end of last year. The Thomson Reuters Investment Grade Sukuk Index is at 116.78976 against 117.32893 at end-May and 113.69014 at end-2014. Sukuk in the pipeline include: Malaysian mortgage lender Cagamas still hopes to issue sukuk this year off a $2.5 billion multi-currency programme set up last November, but foreign exchange volatility is hampering any issue in U.S. dollars. Shareholders of Qatar's Barwa Bank approved plans for a $2 billion senior unsecured sukuk programme that could be issued in various currencies. Dubai's Drake & Scull mandated five banks to arrange a series of fixed income investor meetings starting on June 4 for a potential issue of perpetual U.S. dollar sukuk.