Sukuk issuance will remain stable in near term, says Islamic finance expert

Sukuk issuance for the near term will remain stable despite current global economic uncertainties, as it is seen as a resilient financing instrument to weather through difficult times, according to Islamic Financial Services Board (IFSB) secretary-general Jaseem Ahmed. This is because the issuance of the Islamic finance instrument is very much dependent on preconditions of a particular country, and not solely or directly correlated to current economic and market volatility, he said. However, he added that while current concerns regarding global headwinds are not to be underestimated, many governments are recognising that it does help to have a diverse source of income.