Global Sukuk issuance to hit $180 billion by end of 2021
- Date: 04-Nov-2021
- Source: Salaam Gateway
- Sector:Economy
- Country:Saudi Arabia
Global Sukuk issuance to hit $180 billion by end of 2021
UNITED ARAB EMIRATES – Global Sukuk issuance reached $147 billion in the first nine months of 2021 and is projected to hit $180 billion by the end of this year according to Refinitiv’s 2021 Sukuk Perception and Forecast study.
Sukuk issuance is projected to grow at an estimated 10% CAGR over the next five years, reaching $290 billion in 2026. The leading five countries by Sukuk issuance are Malaysia, Saudi Arabia, Indonesia, Turkey and Kuwait, which together accounted for 90% of total issuance in the third quarter of 2021. According to the report, supported by Crescent Finance, sovereign issuance accounted for 58% of the total.
Sukuk issued in international, mostly Eurobond, markets rose sharply by Q3 2021, to $42 billion, compared with $45 billion for the whole of 2020. Issuers have been tapping demand from international investors seeking higher returns from emerging market debt, as low interest rates persist.
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