As European banks retrench from
Central Eastern Europe, the Middle East and Africa (Ceemea) and
Asia-Pacific, the question of who will fill the liquidity gap
has gained increasing significance.
Many are hoping that high yield
will make up the shortfall, while corporates have been tapping
local bond markets in both Russia and Brazil.
Discussions around whether
its viable for emerging market governments and banks to
use sukuk structures to raise finance have provoked
Hasan Mustafa, managing director and head of debt capital
markets Ceemea at RBS, believes the full potential for