Global sukuk issuance to hover between US$70 Billion – US$80 billion in 2018
Global sukuk issuance unlikely to retain strong performance this year due to tighter global liquidity conditions, mounting geopolitical risks and slow progress on the standardisation of Islamic finance products.
These setbacks, according to Standard and Poor Global Ratings (S&P), would continue to hold the market back from its full potential. The rating agency, in a report titled Global Sukuk Market Outlook for 2018, anticipate total sukuk issuance volume to hover between US$70 billion (RM280 billion) and US$80 billion (RM320 billion) this year.
Global sukuk issuance in 2017 increased 45.3 per cent to 97.9 billion from US$67.4 billion in 2016, spurred by major issuance of some Gulf Cooperation Council (GCC) countries.
It noted that geopolitical risk considerations are weighing heavier on some investors, especially the recent sanctions imposed on Qatar by a group of Arab states in June last year.
The ratings agency said retail investment or waqf money could lift sukuk issuance and reduce pricing by boosting demand.
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