PRESS RELEASE

The Gulf Capital Market Association Highlights Importance of Government Issuance Techniques in 2016

Dubai, January 24, 2016 – The Gulf Capital Market Association (GCMA), the trade association representing the Arabian Gulf fixed income market, released a set of recommended best practices for the issuance of government funding instruments in the Gulf.

The President of the GCMA, Michael Grifferty, said: “Local currency markets will form an increasingly important part of the funding mix in 2016 helping states respond to fiscal pressures. Governments can get the most out of the exercise by using issuance techniques that help the markets develop. We feel that issuing standard instruments on a regular basis and allowing markets to determine prices are among the ways to assure success.”

Grifferty continued to say; “The current macro circumstances offer an opportunity to create robust yield curves in local Gulf currencies that can be extremely useful for pricing risk in the GCC economies. That is why GCMA felt it was important at this time to highlight some globally proven best practices in order to assist regional governments with their planned debt issuances.”

The best practice publication is available for download at:

Best-Practices-for-GCC-Government-Issuance.pdf

The GCMA’s working groups and National Chapters bring together the thought leaders of the regional credit markets to create a more collective voice on key issues affecting the industry.

NOTE FOR EDITORS:

The Gulf Capital Market Association The Gulf Capital Market Association (GCMA) is the regional trade association representing the Arabian Gulf bond and sukuk market. GCMA is involved in all major matters concerning development of bond markets in the region.

For further information please contact:
Michael P. Grifferty
President
The Gulf Capital Market Association
mgrifferty@gulfbondsukuk.org
www.gulfbondsukuk.org
Tel: +971.4.401.9944