Sovereign Issuances in the Gulf Cooperation Council Region Rise 25% in 2020: Kuwait Financial Centre

Gulf Cooperation Council (GCC) entities recorded sovereign issuances amounting to USD 66.3 billion in 2020, according to the GCC Bonds and Sukuk Market Survey 2020 report published by Kuwait Financial Centre. Sovereign issuances recorded a rise of 25% year-on-year (YoY) as compared to the USD 52.9 billion raised during 2019, according to the report.

The report adds that in the GCC, primary issuances of bonds and Sukuk amounted to USD 132.7 billion in 2020, up 16% YoY compared to the USD 114.2 billion raised in 2019.

In 2020, the GCC bonds and Sukuk market was led by issuers based in the United Arab Emirates, raising a total of USD 48.5 billion and representing 37% of the total value raised. The report also added that Saudi Arabia and Qatar accounted for 32% and 18% of...