Turkey’s successful sukuk – Islam-complaint bonds - issuance has paved the way for other countries, according to Mahmoud Mohieldi, a managing director at the World Bank, speaking at an Istanbul meeting.

“We witnessed a few weeks ago that Turkey had a successful sukuk issuance and the market received it very favorably. There was a good return. [This success] paved the way for not only Turkey, but also other countries, [to the sukuk market],” he said at a meeting jointly organized by the World Bank and the Insurance Education Center (Segem), Hurriyet Daily News report.