US$ 188bln worth of Sukuk issued in 2021

US$ 188bln worth of Sukuk issued in 2021

Manama, Kingdom of Bahrain - The International Islamic Financial Market (IIFM) announced the launch of the 11th Edition of its Annual Sukuk Report. The research report provides comprehensive information on global Sukuk issuances, types of issuers, Sukuk structures, case studies on select landmark issuances, articles on Sukuk market developments and prospects as well as country-focused reports on IIFM founding member countries and major Sukuk issuing jurisdictions.

The report finds that the year 2021 was another record year for Sukuk with issuances amounting to US$ 188 billion as compared to US$ 175 billion in 2020. A quarter of these Sukuk are international while the rest are domestic issuances. Although new jurisdictions are continuously coming up, the Sukuk market remains highly concentrated with the top four countries accounting for 88.5% of total issuances. With US$ 77 billion of mostly domestic Sukuk issuances, Malaysia continues to rank number one, having a 41% market share, while Saudi Arabia accounts for 22% followed by Indonesia and Turkiye with 12.4% and 9.5% share respectively.

“In the last 20 years, 12,778 Sukuk were issued globally worth US$ 1.6 trillion, of which two-thirds were issued by one country, namely Malaysia. But Turkiye, Gambia, Indonesia and Bahrain are the markets with