Fitch Ratings Agency expected that the decline in oil and interest prices would lead to greater growth in Islamic sukuk issuances globally this year despite fluctuations and geopolitical factors.
The value of Sukuk issuances, which is a major financing tool in the main markets of the Arab Gulf states, Malaysia, Indonesia, Turkey and Pakistan, amounted to about $850 billion at the end of last year.
Fitch indicated that Islamic banks are an important investor in sukuks, which are a large part of the banking system in the Gulf Cooperation Council countries and Malaysia, in light of expectations that their liquidity levels will remain stable and unchanged. Saudi Arabia occupies first place in the field of Islamic finance, and its experience in financing projects is considered a model not only in the field of infrastructure, but also in the areas of transition to renewable energy.
Source (London Al-Arab newspaper, edited)
