RIYADH: Saudi Arabia’s sukuk issuances jumped by 37 percent in 2021, totalling $36.9 billion, up from $27 billion the year before, S&P Global Ratings revealed.

The increase is attributed to the global issuance of foreign-currency denominated sukuk, which has increased by 10 percent in 2021, with large issuances in the Kingdom, such as that by oil giant Saudi Aramco, contributing to the rise.

On a broader scale, global sukuk issuance has slightly decreased to $147.4 billion in 2021, compared to $148.4 billion in 2020.

In an earlier report, the credit rating agency expected the volume of sukuk disbursement in 2022 to linger around $145-150 billion without significant growth, amid lower and more expensive global and regional liquidity, increased complexity and reduced financing needs for some core Islamic finance countries.

 

Copyright: Arab News © 2022 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.