Malaysia Leads Global Sukuk Issuances: RAM Ratings’ Sukuk Snapshot 1Q 2021 

Malaysia recorded the largest Sukuk issuances globally in the first quarter of 2021 (1Q 2021) at USD 17.9 billion, according to RAM Ratings’ Sukuk Snapshot 2021. Malaysian issuances accounted for 42.4% of global Sukuk issuances and were up 39.8% year-on-year (YoY).

Why it Matters?

Aside from dominating the market, Malaysia out-performed the global growth in issuances, which came in at 21.2% YoY in 1Q 2021, despite the economic challenges stemming from the COVID-19 pandemic. With sovereigns driving the market in 1Q 2021, Malaysia also dominated sovereign Sukuk issuances in the quarter and made further inroads in the environmental, social and governance (ESG) space with the issuance of the world’s first sovereign sustainability Sukuk worth U...