Riyadh – Mubasher: Saudi Arabia will lead the issue of sovereign sukuk in the region in 2018, as sukuk accounts for more than half of total lending requirements, said Moody’s Investors Services.

Moody’s forecast in a recent report that the Kingdom’s lending ratio will make up 10.7% of the gross domestic product (GDP) in 2018.

The investors services agency expected that the Saudi total lending level will reach $75.8 billion in 2018.

The Kingdom’s total lending requirements represented 11.4% of its GDP in 2017, Moody’s added.

The total Saudi lending requirements hit $77 billion in 2017, compared to $122.5 billion in 2016.

Moody’s report forecast that total lending requirements in the GCC will rise to $148 billion in 2018, as the GCC nations need financing.