IslamicFinance.de

Fitch Ratings expects Islamic finance to grow rapidly with more sukuk issuance. Issuance for new sovereigns may be seen from Jordan, Tunisia and even Egypt this year. Fitch Ratings said in a new report that the total new sukuk from GCC+7 issuers rose 13 per cent year-on-year in the first quarter. Total sukuk and bond issuance in the first quarter were up 47 per cent from the fourth quarter when volumes were exceptionally weak, due to falling oil prices and rising geopolitical tension. In the first quarter, the total sukuk issuance volume rated by Fitch grew 3.5 per cent to US$45.1 billion.