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Middle East

Once a Mirage, An Asset Class Begins to Emerge: GCC Local Currency Bond Markets

The growth of the GCC debt capital markets in the first decade of this century was reasonably stunted as the region’s need for debt funding was negligible in the face of abundant liquidity ensuing from high oil prices. Due in large part to its sources of revenue and the prevalence of currency pegs, the region’s borrowers have predominately relied on US dollar funding. But as the region’s corporate entities grow and become more sophisticated, requiring deeper and more diverse domestic funding markets, that looks set to change – with regional governments taking the lead.

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Anita Yadav is a seasoned investment banker with over 22 years experience in financial markets spread across Asia, Australia, India and the Middle East. She is skilled in debt capital markets, sovereign and corporate debt analysis, Islamic finance, credit risk, market risk, investments, lending, trading and funds management.

Beginning her professional life as an analyst at Moody’s in Sydney. Anita’s career has included tenures serving as Managing Director, Head of Global Markets at Nomura in India, as Head of Credit Sales at ANZ in Singapore and as Head of Research at UBS in Sydney. Currently she manages Global Credit Advisory Ltd, a company engaged in advising GCC governments and corporates on capital markets and debt strategies. She has a proven track record of establishing new businesses across cultural and geographically varied markets with history of delivering on profit targets of up-to USD350 million and managing team size of 257 staff.

As a research scholar, Anita has authored numerous reports including recent publications like the GCC Local Currency Bond Market, Credit Bond Outlook, GCC Sukuk Monitor etc. She is extensively interviewed and quoted in print and digital media (Bloomberg, Reuters, Gulf news, Khlaeej Times, Wall Street Journal etc) as a prominent thought leader in the field of interest rates and the wider debt capital markets. She has also made several presentations about Islamic Finance at high level events such as the IMF/World Bank/IIF annual meets.

Anita is the founding board member of The Gulf Bond and Sukuk Association and served as its Vice-Chair between 2015-2020. Her board credentials include previous board member roles at a) Australian Business Council, Dubai (2017 – 2019), b) WTO/BoP Hub, Singapore (2012-2015), and c) Nomura Structured Finance Services (2010 – 2011).

Besides being an alumnus of the Oxford University, Anita also has BSc and MBA qualification from Delhi University and a post graduate certification in Applied Finance and Investments from Australian Institute of Banking and Finance in Sydney. Anita is an Australian by nationality, is married to an Architect, has two kids and lives in Dubai.

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