Bond Covered Dual Sukuk Islamic Pool 2026
The global Islamic finance market is witnessing significant growth, driven by an increasing demand for Sharia-compliant investment products. According to the Islamic Financial Services Board, the total global Islamic finance assets reached approximately $3.5 trillion in 2022, with expectations to surpass $4.5 trillion by 2026. Sukuk, or Islamic bonds, are a pivotal component of this growth, particularly in regions like the Middle East, Southeast Asia, and parts of Africa. This report focuses on the Bond Covered Dual Sukuk Islamic Pool, analyzing the top contributors to this emerging market.
1. Saudi Arabia
Saudi Arabia remains the largest issuer of Sukuk globally, with Sukuk issuance reaching $60 billion in 2022. The government’s efforts to diversify its economy away from oil dependence have propelled the growth of Islamic finance.
2. Malaysia
Malaysia is a leader in the Sukuk market, accounting for 50% of global Sukuk issuance. In 2022, the country issued Sukuk worth $20 billion, reflecting its commitment to developing a robust Islamic financial sector.
3. United Arab Emirates (UAE)
The UAE issued approximately $15 billion in Sukuk in 2022, maintaining its position as a key player in Islamic finance. The growth of its infrastructure and real estate sectors continues to drive Sukuk demand.
4. Indonesia
Indonesia’s Sukuk issuance reached $10 billion in 2022, supported by government initiatives to boost infrastructure financing. The country aims to increase its Sukuk market share as part of its economic strategy.
5. Turkey
Turkey’s Sukuk market is expanding, with total issuances reaching $5 billion in 2022. The government is actively promoting Islamic finance to attract foreign investments and enhance economic growth.
6. Bahrain
Bahrain is a prominent player in the Sukuk market, with issuances totaling $3 billion in 2022. The kingdom’s regulatory framework supports the growth of Islamic financial products.
7. Pakistan
Pakistan’s Sukuk market is gaining traction, with total issuances reaching $2 billion in 2022. The government has been working on enhancing investor confidence in Islamic finance.
8. Qatar
Qatar issued $4 billion in Sukuk in 2022, marking a steady growth trajectory. The country’s investment in infrastructure projects continues to drive Sukuk demand.
9. Egypt
Egypt’s Sukuk market is budding, with an issuance of $1 billion in 2022. The government is committed to expanding its Islamic finance sector to attract more investors.
10. Oman
Oman issued $1.5 billion in Sukuk in 2022, reflecting its efforts to diversify funding sources for development projects. The Sultanate is keen to enhance its Islamic banking sector.
11. Kuwait
Kuwait’s Sukuk issuance reached $2 billion in 2022, with a focus on financing infrastructure and development projects. The country is looking to strengthen its Islamic finance landscape.
12. Jordan
Jordan’s Sukuk market is developing, with a total issuance of $500 million in 2022. The government is exploring Sukuk as a means to finance public projects.
13. South Africa
South Africa issued $300 million in Sukuk in 2022, marking its entry into the Islamic finance market. The country aims to attract investors looking for Sharia-compliant opportunities.
14. Nigeria
Nigeria’s Sukuk issuance reached $1 billion in 2022, with the government initiating projects aimed at improving infrastructure through Islamic finance.
15. Bangladesh
Bangladesh’s Sukuk market is emerging, with an issuance of $700 million in 2022. The government is promoting Islamic finance to foster economic growth.
16. Lebanon
Lebanon issued $250 million in Sukuk in 2022, utilizing Islamic financing to stabilize its economy amidst financial challenges. The market is still in its infancy but holds promise.
17. Brunei
Brunei’s Sukuk issuance reached $300 million in 2022, reflecting its potential in the Islamic finance sector. The government is exploring further opportunities for growth.
18. Maldives
Maldives has recently entered the Sukuk market, issuing $200 million in 2022. The government is keen on utilizing Islamic finance for sustainable development.
19. Afghanistan
Afghanistan’s Sukuk market is nascent, but the country issued $100 million in 2022 as part of its efforts to establish a framework for Islamic finance.
20. Morocco
Morocco issued $150 million in Sukuk in 2022, focusing on infrastructure and development projects. The government is working to enhance the regulatory environment for Islamic finance.
### Insights
The Bond Covered Dual Sukuk Islamic Pool is witnessing robust growth as more countries adopt Islamic finance principles. The global Sukuk market is projected to reach $300 billion in outstanding issuances by 2026, driven by increased participation from both sovereign and corporate issuers. As the demand for Sharia-compliant investments rises, the diversification of Sukuk offerings will likely enhance market stability. Additionally, the ongoing regulatory developments across various countries are expected to facilitate smoother Sukuk transactions and attract a wider range of investors. The global push for sustainable financing may also lead to the emergence of green Sukuk, further expanding the market.
Related Analysis: View Previous Industry Report
