With economies battling Covid-19 crisis, global sukuk issuance in 2020 may see additional sovereign Sukuk to support fiscal stimulus
The global sukuk market delivered a noteworthy performance in 2019, notching up USD130.2 bil of gross issuance – a 41.6% jump from USD91.9 bil the previous year. The top five countries by incremental value were Turkey (+320.4%), Qatar (+62.2%), Malaysia (+57.7%), Bahrain (+45.1%) and Indonesia (+26.2%). Even though issuance by non-core markets surged 138% to USD13.3 bil last year (2018: USD5.6 bil), the global sukuk market remained dominated by the Gulf Cooperation Council (GCC, 40%), Malaysia (34%) and Indonesia (15%).
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