Outstanding global sukuk reaches $240bn on back of $140bn sold in 2012
Adnan Halawi of Zawya presents a roundup of the global sukuk markets in 2012 which saw a record USD 140bn worth of issuances. Halawi breaks down 2012s sukuk key developments, major figures, regulatory framework, and outlook for the coming year.
ZAWYA
January 15, 2013
16 January 2013
Overview of the global outstanding sukuk market
Breakdown of sukuk issued in 2012
12 remarkable developments in 2012
Regulatory workshop continues
Bright Outlook: Sukuk market seen at $300bn by 2013
$140 billion worth of sukuk were issued in 2012 globally, according to Zawya's 4Q12 Sukuk Quarterly Bulletin, a 64% increase from 2011's $85 billion. Last year marked the best year on sukuk record, taking the global outstanding sukuk market to an unprecedented height of $240 billion as of end 2012.
Malaysia continues to be the largest sukuk market with $154 billion or 64% of the total outstanding sukuk market, followed by UAE and Saudi Arabia with around $20 billion, or approximately 9% and 8% respectively. Qatar and Indonesia follow, on 7% and 6% respectively. The list of countries of issuers with outstanding sukuk is now longer than ever, counting 22 countries with outstanding sukuk by end 2012, according to Zawya estimates. This longer roll call is largely attributed to new countries joining the club, and issuers from certain countries choosing to sell sukuk in cross-border deals while awaiting sukuk regulations in their home countries, or those seeking Islamic wealth in other states. The current outstanding sukuk market remains skewed in favor of domestic issuances with 81% or $194 billion, while the remaining 19% or $45.6 billion are in the form of international sukuk.
