Upbeat Sukuk Market set for Continued Growth

Sukuk issuances remain buoyant across the Middle East, in an increasingly active market, as Gulf Cooperation Council economies re-emerge from the COVID related slowdown and a period of lower oil prices.  According to the International Islamic Financial Market, 2020 was a record year for sukuk.  There were US$174.6 billion issued globally, which was an increase of 19.86%, propelled by economic stimulus packages from issuing governments and the improved global economic backdrop. The positive track has continued so far in 2021 and expectations point to stability in the market at these elevated levels.