IslamicFinance.de

According to ratings agency S&P Global, the outlook for Islamic bonds remains uncertain for the coming year. Global Sukuk issuance in 2017 reached $97.9 billion, an increase of 45.3%, from the $67.4 billion recorded in 2016. The increase was underpinned by large issuances by GCC countries, particularly Saudi Arabia. Non-GCC countries also contributed to the rise, with Hong Kong tapping the market again last year and Nigeria issuing its first Sukuk. Morocco and Tunisia are expected to issue Sukuks this year. The report said while core Islamic finance countries will continue to have "significant" financing needs in 2018, the Sukuk market could be held back by tightening global liquidity.