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Malaysia’s local currency Sukuk market outperforms expectations

As at the end of June 2019, the issuance value of the Malaysian Sukuk market had exceeded RAM Ratings’s projection of RM100–120 billion (US$24.28–29.13 billion) for the entire year. The 38.3% year-on-year (y-o-y) growth to RM136.9 billion (US$33.23 billion) (end of June 2018: RM99 billion (US$24.03 billion)) was primarily driven by a 61.1% spike in Bank Negara Malaysia (BNM)’s Islamic issues to RM14.5 billion (US$3.52 billion) in the fi rst half of 2019 (H1 2019), followed by the corporate sector (including quasi-government)’s RM65.1 billion (US$15.8 billion) (+55.5%) and government issues (+9.9% to RM39 billion (US$9.47 billion)).

This article was first published in Islamic Finance news Volume 16 Issue 30 dated the 31st July 2019

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