Global outstanding sukuk market hits $823.4B at Q3 2023-end: Fitch

23/12/2023 Argaam

Bashar Al-Natoor, Global Head of Islamic Finance - Managing Director, Fitch Ratings, said that the value of global outstanding sukuk market rose by 9.8% year-on-year (YoY) to $823.4 billion at the end of Q3 2023, the UAE-based Emirates News Agency (WAM) reported. 

 

At the end of the third quarter of 2023, the global sukuk market reached $823.4 billion, of which 40% were issued by Malaysia, 28% by Saudi Arabia, 13% by Indonesia, 6% by the UAE, and 3% by Türkiye.

 

About 75% of these global sukuk were issued in local currencies until the end of the third quarter of 2023, Al-Natoor said. He added that outstanding sukuk rated by Fitch exceeded $150 billion, up 12.2% YoY, and 79.8% of the sukuk rated by the agency are investment grade.

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