Dubai – Mubasher: The US-based ratings agency, S&P Global expected that the UAE may issue sukuk at a value of AED 29.4 billion ($8 billion) during 2019, while the GCC nations are forecast to issue sukuk that range between $47 billion and $48 billion.

The local sukuk issues amounted to AED 33.4 billion in last year, compared to AED 3.7 billion during 2017, the agency added.

The private sector is expected to issue the most of sukuk, Mohamed Damak, the credit analyst at S&P Global stated.

The demand for financing is also expected to rise in most of the GCC nations during the current year, Damak added.

The analyst further noted that deepening domestic stock exchanges in the GCC may enhance boosting sukuk sector.