Concerns over Fed’s monetary withdrawal results in first time global sukuk losses

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Redemptions from emerging-market bond funds hit a 90-week high in the week ending June 19, according EPFR Global data.

Sukuk had benefited from a boom in Islamic finance, with Ernst & Young forecasting a surge in the industry’s assets to US 1.8 trillion this year from US 1.3 billion in 2011.

In January, sharia- compliant yields fell to a record low before a 57 per cent jump to date, linked largely to speculation that the Fed will scale back its bond buying as the US economy improves.

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