Sukuk issuances down 22% in 2021 on lower GCC sovereign borrowing needs: Moody's

Long-term sovereign sukuk issuance volumes fell 22% in 2021 compared to 2020, primarily due to the impact of higher oil prices reducing GCC sovereign borrowing needs, Moody’s said in a report on Wednesday.

The largest decline in the supply of sukuk came from the GCC sovereigns, Moody’s said in its ‘Quarterly EM Issuance Monitor’.