Global sukuk issuance may hit $155bn in 2021: S&P

6 July, 2021 12:00 AM printer

NEW YORK: Global sukuk issuance is set to increase to as much as $155 billion in 2021, or 11 per cent more than $139.8bn last year, driven by low interest rates and abundant liquidity, according to S&P Global Ratings.

The ratings agency said a more conservative outlook could be in the range of $140bn. Sukuk worth a record $167bn was issued in 2019, report agencies.

A continued economic recovery, vaccination campaigns in most Islamic finance countries and oil prices of about $65 a barrel this year will also support growth in sukuk issuance, the rating agency said in its market report on Monday.