Sukuk market for GCC companies continues to expand

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According to a report by the Kuwait Finance House (KFH), sukuk issuance worldwide amounted to about US $5 billion in July, down from the previous month by 37 percent. The Saudi riyal accounted to about 15 percent of it.

The Baitek Research Co report reveals that the sovereign sukuk topped issuance in July, including three versions of sukuk for Saudi and Qatari companies.

The sukuk market for companies in the GCC countries continued to expand this year though the issuance of two local versions from Saudi Arabia and an international sukuk from Qatar.

The report pointed out that despite the decline in monthly releases by 37 percent compared with last June, the main sukuk market continued its annual increment by 133 percent in this month, thereby increasing the value of annual releases to USD 52.1 billion.

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