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FinancialNews
07-02-22
Saudi sukuk issuance register 37 percent surge during last year
(MENAFN) According to S&P Global Ratings, Saudi Arabia’s sukuk issuances surged by 37 percent throughout last year, bringing it up to a total of USD36.9 billion, increasing from USD27 billion the year ago.
The surge is accredited to the international issuance of foreign-currency denominated sukuk, which has climbed by 10 percent last year, with big issuances in the country, such as that by oil giant Saudi Aramco, playing a role in the increase.
On a larger scale, international sukuk issuance has dropped a tad to reach USD147.4 billion in 2021, in comparison to USD148.4 billion in the preceding year.
In an initial report, the credit rating agency predicted the volume of sukuk disbursement in this year to remain around USD145-150 billion without major increase, over lower and more expensive international and local liquidity, raised complexity and lower funding needs for some major Islamic finance nations.
MENAFN07022022000045013568ID1103650979
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