Bond Perpetual No Sukuk Islamic Maturity Callable 2026
The global Islamic finance market is experiencing significant growth, driven by increasing demand for Sharia-compliant investment products. As of 2023, the market size of Islamic finance is estimated at approximately $3 trillion, reflecting a compound annual growth rate (CAGR) of 10% from 2021 to 2026. Notably, the issuance of sukuk (Islamic bonds) has surged, with the global sukuk market reaching an estimated $700 billion, highlighting the rising interest in alternative financing solutions that align with Islamic principles.
1. Malaysia
Malaysia remains a leader in the sukuk market, accounting for over 50% of the global sukuk issuance. In 2022, the country issued approximately $40 billion in sukuk, driven by robust infrastructure financing and government initiatives.
2. Saudi Arabia
Saudi Arabia is a significant player, with its sukuk market valued at around $135 billion as of 2023. The Kingdom’s Vision 2030 initiative has led to increased demand for sukuk to fund large-scale projects, including NEOM and other infrastructure developments.
3. United Arab Emirates (UAE)
The UAE’s sukuk market is valued at approximately $60 billion, with Dubai being a key hub for Islamic finance. In 2022, the UAE issued $15 billion in sukuk, focusing on green and sustainable projects to attract global investors.
4. Indonesia
Indonesia’s sukuk market has seen rapid growth, reaching $20 billion in 2023. The government has been actively promoting sukuk issuance to finance its infrastructure projects, with plans for further issuance in the coming years.
5. Turkey
Turkey’s sukuk market is valued at around $10 billion, with the government aiming to increase this figure as part of its broader economic strategy. The country’s recent issuance of $1 billion in sukuk reflects its commitment to developing its Islamic finance sector.
6. Pakistan
Pakistan’s sukuk issuance reached $7 billion in 2022, focusing on financing public sector projects. The government’s efforts to enhance its Islamic finance framework have made it a notable player in the sukuk market.
7. Bahrain
Bahrain’s sukuk market is estimated at $20 billion, with the country being one of the pioneers in Islamic finance. The Central Bank of Bahrain has encouraged sukuk issuance to diversify its financing options.
8. Qatar
Qatar’s sukuk market is approximately $13 billion, with the government actively utilizing sukuk for infrastructure development. The recent issuance of $3 billion in sukuk demonstrates its commitment to Islamic finance.
9. Oman
Oman’s sukuk issuance has reached $8 billion, with a focus on funding public infrastructure projects. The country’s first green sukuk issuance in 2023 signifies its dedication to sustainable development.
10. Egypt
Egypt’s sukuk market is growing, with recent issuances bringing the total to $5 billion. The government is exploring sukuk as a tool for financing national projects and attracting foreign investment.
11. Kuwait
Kuwait’s sukuk market is valued at around $7 billion, with the government focusing on developing its Islamic finance landscape. The recent issuance of $1 billion in sukuk indicates its growing significance in the region.
12. South Africa
South Africa has entered the sukuk market with a current valuation of $3 billion. The issuance of a $500 million sukuk in 2022 marked a significant step in promoting Islamic finance in the country.
13. Jordan
Jordan’s sukuk market has reached $2 billion, with the government exploring various financing options to support its economic reforms. The recent issuance of sukuk reflects the country’s commitment to Islamic finance.
14. Nigeria
Nigeria’s sukuk market stands at approximately $5 billion, with the government utilizing sukuk to fund infrastructure projects. The recent sukuk issuance of $1 billion indicates a positive trend in the Islamic finance sector.
15. Bangladesh
Bangladesh has recently entered the sukuk market with an estimated value of $1 billion. The government is looking to sukuk as a viable option for financing development projects.
16. Morocco
Morocco’s sukuk market is emerging, with a current valuation of $1 billion. The government is exploring sukuk as a means to finance infrastructure development and attract foreign investment.
17. Brunei
Brunei’s sukuk market is estimated at $2 billion, with the government focusing on sustainable development projects. Recent initiatives have led to increased interest in sukuk from local and international investors.
18. Lebanon
Lebanon’s sukuk market remains underdeveloped, currently valued at around $500 million. However, the government is exploring sukuk issuance as a way to stabilize its economy and attract investment.
19. Maldives
The Maldives has begun to explore sukuk as a financing option, with an estimated market size of $300 million. The government is considering sukuk to fund tourism and infrastructure projects.
20. Afghanistan
Afghanistan is in the early stages of developing its sukuk market, currently valued at approximately $200 million. The government aims to leverage sukuk to enhance its economic recovery efforts.
Insights
The bond perpetual market, particularly in the context of sukuk, is evolving as countries increasingly look to diversify their financing options. The global sukuk market, valued at around $700 billion, is projected to grow significantly, driven by rising demand for Sharia-compliant products and sustainable investments. By 2026, the sukuk market is expected to reach $1 trillion, as more countries recognize the benefits of sukuk for funding infrastructure and development projects. This trend is reinforced by recent statistics showing that global Islamic finance assets are projected to exceed $5 trillion by 2025, indicating a robust growth trajectory in the sector.
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