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Qatar Had No Sukuk Issuance in 1H 2021 Due to Lower Funding Needs: Moody’s

Qatar Had No Sukuk Issuance in 1H 2021 Due to Lower Funding Needs: Moody’s

September 10, 2021

http://islamicmarkets.com/articles/qatar-had-no-sukuk-issuance-in-1h-2021-due-to
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By IM Insights

Moody’s Investors Service states that Qatar was the only country within the Gulf Cooperation Council (GCC) to have not issued Sukuk during the first half of 2021, due to lower funding needs.

Why it Matters?

Strong liquidity in the interbank market encouraged banks and corporates to raise finance from private and syndication markets while higher oil prices decreased the need for sovereign funding requirements within the GCC. Accordingly, Sukuk issuance in the GCC fell by 19% in 1H2021 and amounted to USD 35.3 billion. GCC Sukuk issuance within the second half of 2021 is projected to decrease while the green and sustainable Sukuk market will have improved issuances, with Southeast Asia and the GCC in the lead.

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