Malaysia remains global leader in sukuk market in 2016 — RAM Ratings

30/01/2017 11:36 AST

Malaysia maintained its pole position in the global sukuk arena as at end-2016, with 41.1 per cent of total sukuk issuance (compared with 48 per cent as at end-2015), says RAM Ratings.

This was followed by Indonesia (16.3 per cent or US$11.9 billion) and the United Arab Emirates (10.9 per cent or US$7.9 billion).

In a statement, the ratings agency said, “Despite a slight decline and the weaker ringgit, sukuk originated from Malaysia still summed up to US$29.9 billion as at end-2016 (US$30.4 billion as at end-2015).

“Greater sukuk issuance in non-core markets also augmented the global sukuk base to US$72.9 billion at year-end (US$63.4 billion as at end-2015) – with issues from Turkey (US$5 billion), Pakistan (US$4.8 billion) and Bangladesh (US$1.1 billion) featuring prominently.

“A total of US$18.2 billion of global sukuk was issued in the fourth quarter of 2016 (4Q16), bringing the full-year issuance to US$72.9 billion as at end-December,” it said.

“Last year, global sukuk issuance exceeded RAM’s projection of US$55 billion to US$65 billion,” said RAM’s head of Islamic Finance Ruslena Ramli.

Meanwhile, in the latest issue of RAM’s Sukuk Snapshot, RAM Ratings highlighted that a total of RM29.9 billion of domestic sukuk was issued in 4Q16, leading to an issuance value of RM129.4 billion for the full year.

The financial services and infrastructure & utilities sectors remained the chief driving forces of the better showing, which surpassed RAM’s full-year projection of RM100 billion to RM120 billion for the local-currency market.

It added, “The value of outstanding sukuk had also increased to RM661.9 billion as at end-2016 (RM608.5 billion as at end-2015), accounting for 56.3 per cent of the overall Malaysian market’s outstanding debt securities.”

Borneo Post
Global News
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
SABIC 97 1,150,537
QNBK 146 90,102
EEC 20.95 237,538
ALMARAI 72 51,943
QGTS 20.1 920,769
KCBK 14.56 49,218
GFH 0.62
Recent News

Oil Veteran Says OPEC Needs Year to Pull Off Elusive Mission
OPEC needs a year more to accomplish what’s at the moment proving to be mission impossible, according to a veteran oil analyst.

Saudi Arabian oil minister Khalid Al-Falih acknowledged last

Interest income of expatriates in Oman not subject to withholding tax
Expatriates living in Oman can heave a sigh of relief as the government is not going to charge withholding tax on their interest income of their deposits in Omani banks.

Earlier, when the

Turks shunning post-referendum lira rally by loading up on dollars
Turks aren’t as optimistic about the lira’s post-referendum potential as global banks including Deutsche Bank. Quite the opposite, in fact.

As the currency gained in the days after citizens

Masraf Al Rayan posts QR510mn Q1 net profit as core earnings surge
Masraf Al Rayan, a Shariah-compliant lender, has reported a net profit of QR510mn in the first three months of this year on the back of “reasonable” expansion in core earnings. The bank’s financing

Qatar stock index drops 43.57 points
Qatar Stock Exchange (QSE) index dropped 43.57 points (0.43 percent) when the bourse closed trading at 10,153.76 points Monday.

The volume of shares traded increased to 7,941,087 from 6,79

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend


Looking ahead, what change you are more likely to make in investing in your domestic stock market?