Pandemic Causes Moody’s to Lower its Forecast for Global Sukuk Issuances in 2020

Moody’s Investor Service (Moody’s) has estimated global Sukuk issuances for 2020 at USD 170 billion, down from its previous estimate of USD 180 billion made in March 2020. The revised estimate is attributed to lower than anticipated corporate or private Sukuk issuances in 2020, driven by the COVID-19 pandemic, according to Moody’s Senior Vice President, Nitish Bhojnagarwala.

Senior Vice President at Moody’s Soverreign Risk Group, Christian de Guzman, noted that global Sukuk issuances were going to be pulled down by the Malaysian corporate sector. As private Sukuk accounted for a large proportion of outstanding Shariah-compliant securities in the Malaysian Capital Market, any large decline would ha...