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Leveraging Islamic Finance to Develop a Sustainable Capital Market

Sukuk issuance set for modest decline despite coronavirus outbreak

We expect sukuk issuance to fall by just 5% this year, despite the Coronavirus outbreak, reversing four consecutive years of rapid growth. Some $77 billion in sukuk was issued in the first six months of 2020, down from $87 billion in the same period of 2019 as the coronavirus pandemic pared activity in Malaysia and Indonesia. We expect the decline to be partly offset by the slow oil price recovery which will increase the financing needs of Gulf-Copoertaion Council (GCC)1....

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