PHOTO
Conceptual photo for Islamic finance, economy and profit. Image used for illustrative purpose Getty Images
Saudi Arabian investment firm Al Rajhi Capital is set to launch a new Islamic bond.
The Capital Market Authority (CMA) confirmed on Monday it has approved the public offering of the Al Rajhi Global Sukuk Fund.
The sukuk market is expected to remain strong, with issuance likely to reach $190 billion to $200 billion in 2025, following a positive year in 2024.
Total issuance amounted to $193.4 billion last year, according to S&P Global Ratings. The ratings agency noted a 29% jump in foreign-currency issuance to $72.7 billion by the end of the year, driven by issuers from GCC countries led by Saudi Arabia and other markets like Malaysia and Indonesia.
(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com