KUALA LUMPUR: Malaysia continues to dominate global sukuk markets in 2020, with a market share of 39.2%, despite the impact of the pandemic on the global economy and economic sentiment.
According to RAM Rating Services Bhd, global sukuk issuance rose 16.8% to US$152.6bil (RM632.91bil) last year from US$130.6bil in 2019.
After Malaysia, the next biggest sukuk markets were Saudi Arabia (20.4%) and Indonesia (17.5%). Collectively, these markets contributed 77.1% of total global sukuk issuance.
“The contagion impact of Covid-19 saw steady issuances from sovereigns in 2020 to finance stimulus packages in support of the pandemic-ravaged economies. Supportive monetary policy and strong government spending were key in boosting local economies, ” it said in a statement.