Sukuk Market Prints over $4 billion in Pre-Ramadan Rush

Over $4 billion of sukuk were issued mostly from Gulf based issuers in the run up to Ramadan.

Noticeable domestic currency issuances were also made by Government of Malaysia with a 2.5 billion Ringgit print as well as domestic issuances by Governments of Jordan, Brunei and Bahrain, as well as a private placement by Kuveyt Turk.

Details of the following sukuk issued in May can be found on the Sukuk.com Sukuk Database, the leading source of Sukuk data used by the Sukuk industry.

• Noor Bank $500m


• DP World $1.2b


• IILM $1.34b


• Emirates Islamic Bank $750m


• Jordan 75m JOD


• Ezdan $500m


• Boubyan Bank $250m


• Central Bank of Bahrain BD 26m


• Kuveyt Turk 300m TL


• Government of Malaysia 2.5 B MYR


• Brunei 20 million BND

The Governments of Nigeria, Qatar and Turkey are in the pipeline to issue shortly, as is Qatar Islamic Bank and Saudi Electricity.

Sukuk Issuance up to Q2 16