Moody’s expects 10% sukuk issuance growth over 2014-2015

PETALING JAYA: Local sukuk issuance will likely see steady annual growth of around 10% over 2014 and 2015 from US$33bil issued last year.

Moody’s Investors Service analysts, led by the rating agency’s global head for Islamic finance Khalid Howladar, said in a report issued on Thursday that the growth in sukuk volumes would be driven by sovereign and related issuers, as well as private-sector corporates seeking to raise funding under Malaysia’s US$444bil Economic Transformation Programme.