LONDON, Jan 11 (Reuters) - The Malaysian stock exchange said it attracted $17.6 billion in Islamic bond listings in 2009 as the sukuk market shows signs of recovery.
Bursa Malaysia said on Monday it had topped the world's exchanges in terms of the value of sukuk listings last year, depsite only making its debut on the market in August.
Sukuk, unlike conventional bonds, are trust certificates, which do not pay interest but investors are paid returns generated by the tangible assets underpinning them.
Issuance fell 56 percent in 2008 to $14.9 billion according to ratings agency S&P, hit by liquidity problems in the midst of adverse market conditions.
Malaysia is considered the most developed sukuk market in the world and is the source of most issuance. The exchange said it listed 12 sukuk last year, including a $500 million issue by GE Capital in November. omar1.1 iimm.bnm.gov.my