According to RAM Rating Services Bhd, global sukuk issuance rose 16.8% to US$152.6bil last year from US$130.6bil in 2019.
After Malaysia, the next biggest sukuk markets were Saudi Arabia and Indonesia . 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.
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