JEDDAH — The sukuk market enjoyed a strong start to the year but it may not last, S&P Global Ratings said Sunday in the "The Sukuk Market Starts 2019 Well, But Activity Might Taper Off," report published on RatingsDirect.

"High levels of liquidity in Indonesia, Turkey's efforts to tap all available financing sources, and the return of Qatari and Saudi Arabian issuers to the market have boosted issuance of sukuk 17.6% in the first five months of 2019," said S&P Global Ratings Head of Islamic Finance, Mohamed Damak.

We now anticipate total sukuk issuance of $115 billion this year, including $32 billion of foreign currency issuances, which is the upper limit of our previous forecast."