Global sukuk issuance to fall slightly in 2021 as financing needs ease

Global sukuk issuance is expected to fall slightly in 2021 as financing needs narrow amid higher oil prices, lower coronavirus-related expenditures and accelerating economic activity in core sukuk-issuing countries, Moody’s Investors Service said in a research report.

In 2020, the coronavirus pandemic drove fiscal deficits sharply wider across major sukuk-issuing sovereigns, leading to a sharp spike in issuance in the second half of the year as market conditions improved. Long-term global sovereign sukuk issuance surged by 49 percent, reaching $109 billion in 2020, compared to $73 billion in 2019.

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