Green sukuk market won't ignite without Gulf governments backing, warns top Fitch Ratings analyst
Published 07 Sep,2021 via Arab News - Economy - Gulf countries need to lead by example with ambitious infrastructure projects to unlock the true potential of a growing green and sustainable sukuk market that doubled this year, a leading analyst at credit ratings agency Fitch Ratings has told Arab News.
Bashar Al Natoor, the global head of Islamic finance at the agency, pointed to the rapid growth in the Sharia-compliant green sector, which saw issuances rise from $3 billion in 2020 to $6 billion in the first half of this year alone.
But he warned that without leadership from governments in the Gulf region, this branch of the sukuk market may fail to properly “ignite”.
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