$188bn worth of Sukuk issued in 2021 – The Peninsula

$188bn worth of Sukuk issued in 2021 – The Peninsula

Doha: 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 $188bn as compared to $175bn 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 percent of total issuances.

“In the last 20 years, 12,778 Sukuk were issued globally worth $ 1.6 trillion, of which two-thirds were issued by one country, namely Malaysia. But Turkiye, Gambia, Indonesia and Bahrain are the markets with the greatest number of issuances. When it comes to the amount, the regional picture is quite different.

In the GCC, the average Sukuk issue is about $390m, followed by $370m in Africa (excluding Gambia). In Asia and the Far East, the average issuance size is