Cross-border corporate sukuk is set to increase from 2022 lows, says Moody's

Cross-border corporate sukuk issuance is set to rise significantly from 2022 lows, with companies in the Gulf Cooperation Council (GCC) countries and Malaysia (A3 stable) accounting for most of the issuance, according to a report from Moody's Investors Service.

"Despite challenging market conditions, year-to-date cross-border corporate sukuk issuances as of 18 May 2023 have already doubled from the issuance volume in full-year 2022 to $5.2 billion," said Maisam Hasnain, a Moody's Vice President and Senior Analyst. This is likely to grow further, he added.

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