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Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) recently held public hearings on its proposed Sharia Standard 62, a development that S&P Global Ratings believes will significantly shape the future of the sukuk market.
While the AAOIFI is likely to grant issuers a transition period for implementation, the new standard could still lead to a decline in sukuk issuance, according to S&P Global Ratings .
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