UAE Business: Global Sukuk issuance seen at $185 billion in 2022 – Gulf Digital News

UAE Business: Global Sukuk issuance seen at $185 billion in 2022 – Gulf Digital News

Global Sukuk issuance is projected to moderate, settling at $185 billion in 2022, according to the 2022 Sukuk Perceptions and Forecast Study released by Refinitiv, a London Stock Exchange Group (LSEG) business.

According to Refinitiv’s 2022 Sukuk Survey, around 41% of respondents indicated they were still bullish about growth in global sukuk supply. The report, titled “Navigating a new Environment”, projected global sukuk issuance would grow at an estimated CAGR of 6.8% over the next five years, reaching $257 billion in 2027.

The report indicated that the momentum of international sukuk issuance began to slow in the first half of 2022, despite strong activity from issuers capitalising on high demand from international investors early in the year.

Mustafa Adil, Head of Islamic Finance, Refinitiv, an LSEG business, said: “A new sukuk issuance record had been set in 2021 for the fifth consecutive year, reaching a total of $196.5 billion. Although this was up by 8.2% from $181.6 billion in 2020, that compares with much greater average annual growth of 21% in the previous five years.”

“Global sukuk issuance in the first half of 2022 raised $100.9 billion, marginally lower than $104.2 billion H1 2021. Despite a strong start to the year, issuance momentum slowed