Asian sukuk offerings are drawing more demand from the Middle East, boding well for regional hubs trying to raise their profiles in the Islamic finance market. When the government of hong kong issued a US$1bn five-year Islamic bond last week, 42% was allocated to the Middle East, up from 36% for the borrower's debut sukuk last September. Middle Eastern buyers also snapped up 56% of garuda indonesia's US$500m 6.125% 2020s, the first international sukuk offering from an unrated Indonesian corporate issuer.
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