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Global sovereign sukuk issuance may exceed $93bn by 2020 –Moody’s

Global sovereign sukuk issuance may exceed $93bn by 2020 –Moody’s

Mubasher: Moody’s Investors Service expects global sovereign and supranational sukuk issuance to surpass all-time high of $93 billion by the year 2020, up from $78 billion in 2018, according to a recent report.

It is noteworthy that the all-time high level was registered in 2012.

Global sovereign sukuk market is forecast to recover in 2019, while deepening of sukuk market will allow sovereigns to show diversity of financing sources, Moody’s said.

“The recovery in issuance stems from higher deficit financing needs amid moderate oil prices, in particular for sovereign issuers in the Gulf Cooperation Council, higher sukuk refinancing needs especially in Malaysia, and a gradual increase in the share of sukuk in major issuers' fiscal deficit financing,” according to Moody’s report.