Sukuk issuance could reach $150 billion in 2022

Sukuk issuance could reach $150 billion in 2022
Sukuk issuance could reach $150 billion in 2022

Standard & Poor’s, the credit rating agency, said on Tuesday: Sukuk Issuances During the current year, it will stabilize and will be close to the levels of last year, with the decline in liquidity regionally and globally, the rise in the cost of financing, the increase in complications, and the decline in the financing needs of some basic Islamic financing countries.

The agency added in a report seen by “Al” that the total sukuk issuances during the past year fell to 147.4 billion dollars, compared to 148.4 billion dollars in 2020, but Islamic bonds denominated in foreign currencies increased by 10% last year.

Standard & Poor’s expects sukuk issuances in 2022 to range between $145 billion and $150 billion this year.

On the positive side, the agency sees opportunities for growth in the sukuk market, provided by the energy transition in the core Islamic finance countries, with increased awareness of environmental, social and governance standards by regional issuers, as well as the automation of sukuk issuances through the strong adoption of financial technology solutions.

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