Sukuk issuance shrinks despite market efforts to diversify into sustainability

Bond market graph volatility from Adobe 22May20 575x375
By Mariam Meskin
24 Sep 2020

The volume of sukuk issues — bonds structured in line with Islamic financing principles — is set to decline this year, despite the market’s best attempts to diversify and become more sustainability-focused.

“When the pandemic first emerged, it really hit the markets where Islamic finance is active – Asia and the Middle East,” said Bashar Al-Natoor, global head of Islamic finance at Fitch Ratings in Dubai. "Sovereigns in key Islamic finance jurisdictions, many of whom are net oil exporters, were ...

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