Bond Sterling Sukuk Islamic GBP Offshore Issuance 2026
The global Islamic finance market has been witnessing significant growth, particularly in the issuance of Sukuk instruments. As of 2021, the global Sukuk market was valued at approximately $600 billion, with projections indicating it could reach over $1 trillion by 2026. In the UK, the Islamic finance sector is expanding rapidly, with the UK government’s aim to issue its first sovereign Sukuk in GBP, reflecting the rising interest in ethical investment options. The offshore Sukuk market is becoming increasingly relevant, especially as investors seek diversification in their portfolios.
Top 20 Bond Sterling Sukuk Islamic GBP Offshore Issuance 2026
1. UK Government
The UK government is planning to issue its first sovereign Sukuk in GBP by 2026, aiming to tap into the growing demand for Sharia-compliant investment products. This move is expected to attract a wider investor base and enhance the UK’s position as a global hub for Islamic finance.
2. Qatar Islamic Bank
Qatar Islamic Bank (QIB), one of the leading Sharia-compliant banks in Qatar, issued a Sukuk worth $1 billion in 2021. QIB has a market share of around 30% in the Qatari banking sector, making it a significant player in the Sukuk market.
3. Dubai Islamic Bank
Dubai Islamic Bank, a pioneer in Islamic finance, issued a $750 million Sukuk in 2021. The bank holds a market share of approximately 20% in the UAE Islamic banking sector, demonstrating its robust growth and influence in the Sukuk space.
4. Abu Dhabi Islamic Bank
In 2021, Abu Dhabi Islamic Bank issued a $500 million Sukuk, contributing to its total Sukuk issuance of over $2 billion since its inception. The bank has a significant presence in the UAE with a market share of around 11%.
5. Bank of London and the Middle East (BLME)
BLME, a leading wholesale bank in the UK, issued a Sukuk of £250 million in 2021. The bank focuses on providing Sharia-compliant financing solutions and has shown consistent growth in its Sukuk issuance over the years.
6. Malaysia Government
Malaysia remains a global leader in Sukuk issuance, with its government having issued over $250 billion in Sukuk to date. The country accounts for about 60% of the global Sukuk market, making it a key player in this sector.
7. Saudi Arabia Government
The Saudi government has actively engaged in Sukuk issuance, with a total of $100 billion raised since 2016. The government’s Vision 2030 initiative includes enhancing the Islamic finance sector’s contributions to the economy.
8. Kuwait Finance House
Kuwait Finance House issued a $500 million Sukuk in 2020, marking its commitment to expanding its Islamic finance offerings. The bank holds a significant market share in Kuwait’s banking sector, estimated at 12%.
9. Islamic Development Bank
The Islamic Development Bank (IsDB) issued a $1.5 billion Sukuk in 2021, supporting projects in member countries. IsDB plays a crucial role in promoting economic development through Islamic finance.
10. Emirates Islamic Bank
Emirates Islamic Bank issued a $300 million Sukuk in 2021. The bank has been a strong player in the UAE Islamic banking sector, with a market share of around 5%.
11. Bahrain Government
Bahrain has been a consistent issuer of Sukuk, raising approximately $1 billion in 2021. The country continues to enhance its regulatory framework to support the growth of Islamic financial instruments.
12. Abu Dhabi Sovereign Fund
The Abu Dhabi Sovereign Fund has engaged in Sukuk issuance, raising over $3 billion in the last five years. The fund plays a strategic role in diversifying the emirate’s investments through Sharia-compliant instruments.
13. Qatar Central Bank
In 2021, the Qatar Central Bank issued a Sukuk valued at $1 billion. The central bank’s active participation in the Sukuk market helps maintain liquidity and stability in the Islamic finance sector.
14. Oman’s Government
Oman issued a Sukuk worth $1.5 billion in 2020, with plans for further issuances as part of its fiscal strategy. The government aims to diversify funding sources to support economic growth.
15. Al Baraka Banking Group
Al Baraka Banking Group is a prominent player in the Islamic banking sector, with Sukuk issuances exceeding $1 billion. The group’s operations span multiple countries, enhancing its market reach.
16. Jordan Islamic Bank
Jordan Islamic Bank issued a Sukuk of $250 million in 2021, contributing to its growth in the Jordanian banking sector. The bank is among the leading Islamic banks in Jordan.
17. Bank Muamalat Indonesia
Bank Muamalat Indonesia issued a Sukuk of approximately $400 million in 2021. It is one of the leading Islamic banks in Indonesia, contributing to the country’s growing Sukuk market.
18. Pakistan Government
Pakistan has been active in the Sukuk market, raising $1 billion through Sukuk issuances in recent years. The government aims to develop its domestic Sukuk market further to meet funding needs.
19. Islamic Bank of Asia
The Islamic Bank of Asia, based in Singapore, has issued Sukuk totaling over $2 billion. The bank focuses on providing Sharia-compliant financing solutions across Asia.
20. Qatar Petroleum
Qatar Petroleum issued a $1 billion Sukuk in 2021 to support its expansion projects. The corporation plays a vital role in the Qatari economy and is a major issuer of Sukuk in the region.
Insights and Future Trends
The trend towards Sukuk issuance is expected to continue its upward trajectory, driven by increased demand for ethical investments and Sharia-compliant financial products. By 2026, the global Sukuk market could surpass $1 trillion, reflecting a CAGR of approximately 15%. Additionally, countries like the UK and Malaysia are likely to play pivotal roles in fostering this growth through regulatory support and innovative financial products. The diversification of Sukuk offerings and the entry of new players into the market will further enhance its attractiveness to investors, positioning Sukuk as a cornerstone of global finance.
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