Sovereign and quasi-sovereign issuers are expected to drive growth in the global sukuk market throughout the year. New entrants such as Maldives made their debut in the market this year, with more expected to follow by the end of the year. Having recorded a new sukuk issuances volume of USD31.14bln in 1Q14, the global sukuk market continues to exceed the average quarterly volume, since 1Q12, of USD31bln.
Malaysia continues to lead the way with more than 60% of the share of new sukuk issuances worldwide every quarter since 1Q12, followed by the GCC countries.
Global sukuk market begins 2014 with a sustained momentum as sovereign and quasi-sovereign issuers spearheaded the new sukuk issuances in 1Q2014
The volume of new sukuk issuances in the global sukuk market amounted to USD31.1bln in 1Q14, which exceeded the average quarterly volume of USD31bln (1Q12-1Q14), leading to expectations that the primary sukuk market will once again surpass the USD100bln mark in new issuances volume this year. The expectations are further supported by a number of high profile issuances which remain in the pipeline for 2014 including debut sovereign issuances from the United Kingdom, 0Luxembourg, South Africa and Hong Kong, among others.
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