Global Sukuk Market Trends and Developments...1 Global Sukuk Market Trends and Developments(Key Findings of the Sukuk Report) IIFM Webinar on Launch of Annual IIFM Sukuk Report (9th

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Global Sukuk Market Trends and Developments(Key Findings of the Sukuk Report)

IIFM Webinar on Launch of Annual IIFM Sukuk Report (9th Edition)

Monday, 27th July 2020.

Ijlal Ahmed Alvi

Chief Executive, IIFM

Total Sukuk Issuances2001 to 2019

IIFM Webinar on Launch of Annual IIFM Sukuk Report (9th Edition) Monday, 27th July 2020.

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Total GLOBAL Sukuk Issuances (Jan 2001 - Dec 2019) - All Tenors, All Currencies (in USD Millions)

Source: IIFM Sukuk Report 9th Edition ➢ Total Global Sukuk Issuance USD 1.247 Trillion

1

66,830

50,184

24,337

37,927

53,125

93,173

137,599 135,557

107,300

67,818

87,784

116,717

123,150

145,702

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

2001-2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019


2

Total INTERNATIONAL Sukuk Issuances (Jan 2001 - Dec 2019) - All Tenors, All Currencies (in USD Millions)

➢ Total International Sukuk Issuance USD 289.92 Billion

21,556

14,002

2,210

7,023

4,248

8,684

20,269

22,992

26,730

21,880

31,210

37,648

32,988

38,476

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

2001-2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019


Source: IIFM Sukuk Report 9th Edition

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3

Total INTERNATIONAL Long-Term Vs Short-Term Sukuk Issuances (Jan 2001 - Dec 2019)- All Tenors, All Currencies (in USD Millions)

19,646

13,954

2,210

7,0234,229

8,684

20,26921,975 20,930

14,304

21,910

27,79824,878

29,446

1,910

48

0

0

19

0

0

1,0185,800

7,576

9,300

9,850

8,110

9,030

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

2001-2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019



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Total DOMESTIC Sukuk Issuances (Jan 2001 - Dec 2019) - All Tenors, All Currencies (in USD Millions)

➢ Total Domestic Sukuk Issuance to date is USD 957.28 Billion

45,275

36,182

22,127

30,904

48,877

84,490

117,331112,565

80,570

45,938

56,574

79,069

90,162

107,226

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

2001-2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019



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5

Total DOMESTIC Long-Term Vs Short-Term Sukuk Issuances (Jan 2001 - Dec 2019)- All Tenors, All Currencies (in USD Millions

32,518 32,559

13,574 9,972 13,632

41,124

52,104 50,857

29,62737,383

42,534

69,36963,137

76,45112,7573,623

8,55220,932

35,245

43,365

65,22761,708

50,942

8,555

14,040

9,70027,024

30,774

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

2001-2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019



Total GLOBAL SHORT-TERM Sukuk Issuances (Jan 2001-Dec 2019) Tenor 12 Months or Less, All Currencies (in USD Millions)

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➢ Total Global Short Term Sukuk Issuance USD 445.1

IIFM Awareness Seminar on Islamic Finance, 12th June 2019, Dubai

14,667

3,671

8,552

20,932

35,264

43,365

65,22762,725

56,742

16,131

23,340

19,550

35,134

39,804

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

2001-2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019


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Total INTERNATIONAL SHORT-TERM Sukuk Issuances(Jan 2001-Dec 2019) Tenor 12 Months or Less, All Currencies

(in USD Millions)

7

➢ Total International Short Term Sukuk Issuance USD 52.66 Billion



1,910

48 0 0 19 0 0

1,018

5,800

7,576

9,300

9,850

8,110

9,030

0

2,000

4,000

6,000

8,000

10,000

12,000

2001-2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Total DOMESTIC SHORT-TERM Sukuk Issuances (Jan 2001-Dec 2019) Tenor 12 Months or Less, All Currencies (in USD Millions)

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➢ Total Domestic Short Term Sukuk Issuance USD 392.44 Billion



12,757

3,623

8,552

20,932

35,245

43,365

65,227

61,708

50,942

8,555

14,040

9,700

27,024

30,774

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

2001-2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

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Sukuk Issuances Breakupby Issuer Status


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Total GLOBAL SOVEREIGN Sukuk Issuances (Jan 2001-Dec 2019) - All Tenors, All Currencies (in USD Millions)

➢ Total Sovereign Sukuk Issuance USD 680.74 Billion

11,324

6,874 7,58510,637

24,881

34,071

67,765

87,09383,211

68,788

33,335

41,255

62,166

67,381

74,377

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

2001-2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019



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Total GLOBAL QUASI-SOVEREIGN Sukuk Issuances (Jan 2001-Dec 2019) - All Tenors, All Currencies (in USD Millions)

➢ Total Global Quasi Sovereign Sukuk Issuance USD 190.34 Billion

1,979 1,448 1,497855

3,9963,031

5,651

21,649

12,793

21,635

11,503

21,317

28,553

23,609

30,823

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2001-2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019



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Total GLOBAL CORPORATE Sukuk Issuances (Jan2001-Dec2019) - All Tenors, All Currencies (in USD Millions)

➢ Total Corporate Sukuk Issuance USD 300.162 Billion

19,185

23,420

39,702

12,549

8,856

14,77816,052

23,235

34,585

12,675

14,731

19,817

16,835

22,039 21,703

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

2001-2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019



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Total GLOBAL FIs Sukuk Issuances (Jan 2001-Dec 2019)– All Tenors, All Currencies (in USD Millions)

➢ Total FIs Sukuk Issuance USD 75.96 Billions

735

1,8641,400

296 193

1,245

3,706

5,6234,969

4,202

8,249

5,395

9,163

10,122

18,798

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

2001-2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019



Country wise Breakup of Sukuk Issuances


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Regional Breakup of GLOBAL Short Term Sukuk Issuances(Jan 2001 – Dec 2019)

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ASIA & FAR EAST Number of Issues Amount USD Millions % of Total Value

Bangladesh 6 59 0.01%

Brunei Darussalam 173 10,949 2.46%

Indonesia 97 10,578 2.38%

Malaysia 3,283 370,755 83.30%

Pakistan 14 341 0.08%

Singapore 3 221 0.05%

Total 3,576 392,903 88.3%

GCC & MIDDLE EAST Number of Issues Amount USD Millions % of Total Value

Bahrain 361 17,847 4.01%

Oman 1 130 0.03%

Saudi Arabia 6 1,301 0.29%

United Arab Emirates 1 100 0.02%

Yemen 1 234 0.05%

Total 370 19,612 4.4%

AFRICA Number of Issues Amount USD Millions % of Total Value

Gambia 363 389 0.09%

Sudan 21 16,520 3.71%

Total 384 16,910 3.8%

Europe & OTHERS Number of Issues Amount USD Millions % of Total Value

Turkey 473 15,682 3.52%

Total 473 15,682 3.52%Grand Total 4,803 445,106 100%



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Regional Breakup of GLOBAL Sukuk Issuances (Jan2001 - Dec2019)

ASIA & FAR EAST Number of Issues Amount USD Millions % of Total Value

Bangladesh 6 59 0.005%

Brunei Darussalam 173 10,949 0.878%

China 1 97 0.01%

Hong Kong 5 3,196 0.26%

Indonesia 490 98,908 7.93%

Japan 3 190 0.02%

Malaysia 7,090 733,748 58.83%

Maldives 2 10 0.001%

Pakistan 98 17,630 1.41%

Singapore 16 1,498 0.12%

Sri Lanka 2 5 0.0004%

Total 7,886 866,290 69.46%

GCC & MIDDLE EAST Number of Issues Amount USD Millions % of Total Value

Bahrain 437 33,735 2.70%

Jordan 4 483 0.04%

Kuwait 20 4,458 0.36%

Oman 13 6,188 0.50%

Qatar 53 33,667 2.70%

Saudi Arabia 217 146,291 11.73%

United Arab Emirates 140 88,688 7.11%

Yemen 2 253 0.02%

Total 886 313,764 25.16%

Continued..



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Regional Breakup of GLOBAL Sukuk Issuances (Jan2001 – Dec 2019)

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AFRICA Number of Issues Amount USD Millions % of Total Value

Gambia 429 407 0.03%

ivory Coast 2 460 0.04%

Nigeria 5 864 0.07%

Mali 1 285 0.02%

Morocco 1 105 0.01%

South Africa 1 500 0.04%

Senegal 2 445 0.04%

Sudan 36 19,646 1.58%

Togo 1 245 0.02%

Total 478 22,956 1.84%

Europe & OTHERS Number of Issues Amount USD Millions % of Total Value

France 1 1 0.0001%

Germany 3 206 0.02%

Luxembourg 3 280 0.02%

Kazakhstan 1 77 0.01%

Turkey 585 40,544 3.25%

United Kingdom 10 1,719 0.14%

USA 5 1,367 0.11%

Total 608 44,194 3.54%

Grand Total 9,858 1,247,204 100%



Sukuk Structure Breakup


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16

GLOBAL SHORT TERM SUKUK ISSUANCES ≤ 12 MONTHS, STRUCTURE BREAK-UP FOR THE YEAR 2019, AMOUNT IN USD

MILLIONS



17

INTERNATIONAL Sukuk Issuances - Breakup by Structure for The Year 2019- All Tenors (in USD Millions)



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DOMESTIC Sukuk Issuances - Breakup by Structure for the Year 2019 - All Tenors (in USD Millions)



2019 Sukuk Outstanding


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Total GLOBAL Sukuk Outstanding as of 31st December 2019

➢ Total Global Sukuk outstanding USD 551.44 Billion

19

570 9333,345

15,409

3,516 3,556 4,942

12,001

38,31235,809

26,423

49,444

57,122

96,569

87,835

115,657

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019



➢ Total DOMESTIC Sukuk outstanding USD 407.41 Billion

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Total DOMESTIC Sukuk Outstanding as of 31st December 2019

180 9333,345

15,189

3,516 3,556 4,119

11,201

32,936

28,320

16,673

35,340 36,025

68,871

62,956

84,251

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019



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➢ Total International Sukuk outstanding USD 144.03 Billion

21

Total INTERNATIONAL Sukuk Outstanding as of 31st December 2019

390 220823 800

5,376

7,489

9,750

14,104

21,097

27,698

24,878

31,406

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

2004 2007 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019



ShukranWassalamu ‘Alaikum

International Islamic Financial Market (IIFM)Office 72, 7th Floor, Zamil Tower , Government Avenue, P.O. Box: 11454, Manama, Kingdom of BahrainTel: +973 17500161 , Fax: +973 17500171, Email: [email protected], Website: www.iifm.net

Disclaimer: The information herein has been obtained from sources believed to be reliable but cannot be guaranteed. The views or opinions expressed are subjected to change at any time. Neither the information nor any opinion expressed can be construed as a solicitation for the purchase or sale of any securities. International Islamic Financial Market disclaims liability in this respect.

Documents

Global Sukuk Market Trends and Developments...1 Global Sukuk Market Trends and Developments(Key Findings of the Sukuk Report) IIFM Webinar on Launch of Annual IIFM Sukuk Report (9th