Select OIC markets dominate sustainable Islamic issuances
A sizeable chunk of sustainable Islamic issuances is concentrated across select Organization of Islamic Cooperation countries (OIC), S&P Global Ratings’ global head of Islamic Finance told Salaam Gateway.
“Most of the sustainable Islamic issuances are concentrated in Saudi Arabia, the UAE, Türkiye and Malaysia. These countries dominate issuances due to the size of their economies and local Islamic finance industries. We expect to see more issuances in these countries and in other countries too, as issuers want to attract investors with sustainability mandates,” said Mohamed Damak, managing director and global head of Islamic Finance at S&P Global Ratings.
Islamic finance itself is typically concentrated across economies that are reliant on hydrocarbons, and harbour greater exposure to energy transition risks. This potentially creates higher demand for sustainable sukuk to help execute the transition of these countries, according to a S&P Global Ratings research report.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
