Three nations to be largest sovereign sukuk issuers

The rating agency expects the largest contribution to come from Malaysia and Indonesia, partly reflecting higher and sustained sukuk refinancing needs, although fiscal deficits have been modestly improving. — Reuters

KUALA LUMPUR: Malaysia, Indonesia and Turkiye will be the largest sovereign issuers in 2023-2024, taking over from Saudi Arabia which accounted for the largest single share of long-term sovereign sukuk issuances over the past six years, according to Moody’s Investors Service.

The rating agency expects the largest contribution to come from Malaysia and Indonesia, partly reflecting higher and sustained sukuk refinancing needs, although fiscal deficits have been modestly improving.