The Dubai crisis of December 2009 hit the nascent sukuk bond market – not yet a decade old – leading issuers to hold back. In 2010 HSBC was voted best bank for Islamic Finance in the Credit Awards. Mohammed Dawood then predicted issuance would bounce back. Not only was he right, but HSBC has now won the 2011 award too. The day before he was interviewed for this article, Dawood had been involved in finalising Malaysia’s $2 billion issuance, the largest sukuk issuance in history.
“We have seen a pi
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