Sukuk Global Market Report 2023

“Sukuk Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on sukuk market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for sukuk? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The sukuk market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Sukuk Type: Murabahah Sukuk; Salam Sukuk; Istisna Sukuk; Ijarah Sukuk; Musharakah Sukuk; Mudarabah Sukuk; Hybrid Sukuk; Other Sukuk Types

• 2) By Currency: Turkish Lira; Indonesian Rupiah; Saudi Riyal; Kuwaiti Dinar; Malaysian Ringgit; United States Dollar; Other Currencies

• 3) By Issuer Type: Sovereign; Corporate; Financial Institutions; Quasi-Sovereign; Other Issuer Types

• Companies Mentioned: Abu Dhabi Islamic Bank PJSC; Al Baraka Group B.S.C; Al Rajhi Bank; Banque Saudi Fransi; Dubai Islamic Bank

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the sukuk market are Abu Dhabi Islamic Bank PJSC, Al Baraka Group B.S.C, Al Rajhi Bank, Banque Saudi Fransi, Dubai Islamic Bank, HSBC Holdings PLC., Kuwait Finance House, Malayan Banking Berhad, Qatar International Islamic Bank, RHB Islamic Bank, Samba Financial Group SJSC, Ajman Bank, Citi Islamic Investment Bank, Emirates NBD, Standard Chartered.

The global sukuk market is expected to grow from $754.93 billion in 2022 to $973.25 billion in 2023 at a compound annual growth rate (CAGR) of 28.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The sukuk market is expected to reach $1,821.75 billion in 2027 at a CAGR of 17.0%.

The sukuk market consists of sales of true certificates, alternative civil law structures, investors' credit exposure, and asset-backed. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

An Islamic financial certificate is known as a sukuk, also known as an "Islamic bond or sharia-compliant bond) denotes a percentage of ownership in a portfolio of permissible current or future assets. It is used to raise capital for a firm.

Saudi-Arabia was the largest region in the sukuk market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of sukuk are murabahah sukuk, salam sukuk, istisna sukuk, ijarah sukuk, musharakah sukuk, mudarabah sukuk, hybrid sukuk, and others. Murabahah sukuk is referred to as a type of Islamic financing bond in which both the seller and the buyer agree on the asset's cost and markup and it is used to purchase an item and resell it at cost plus a profit. The major currencies used are the Turkish lira, Indonesian rupiah, Saudi riyal, Kuwaiti dinar, Malaysian ringgit, United States dollar, and others by various issuers such as sovereign, corporate, financial institutions, quasi-sovereign, and others.

The rapid urbanization in Middle Eastern countries is expected to propel the growth of the sukuk market going forward. Urbanization is the process of a nation's population gradually moving from rural to urban areas, with the proportion of urban residents growing faster than that of rural residents. The demand for infrastructure investment is created by urbanization, which subsequently spurs economic growth through a variety of avenues, such as lowering transaction costs and increasing productivity. In infrastructure development, sukuk is a popular and extremely effective way for governments to raise money locally and internationally through a sharia-compliant procedure without paying interest for the development of the country. For instance, in October 2021, according to the Middle East Institute, a US-based non-profit organization think tank, and cultural center, almost two-thirds of the population of the Middle East lives in cities, above the global total of just over half. Additionally, In July 2022, according to the Brookings Institution, a US-based research institute, in the developed world and middle-income nations in Latin America, Europe, the Middle East, and North Africa, urbanization rates hover at around 70%, and they are rising quickly at other developing economies. Therefore, the rapid urbanization in Middle Eastern countries is driving the growth of the sukuk market.

Strategic partnerships are a key trend gaining popularity in the Sukuk market. Many companies operating in the sukuk market are undergoing partnerships to strengthen their position in the market. For instance, in March 2021, City Bank Capital Resources Limited, a Bangladesh-based investing banking company partnered with Bangladesh Export Import Company Limited (BEXIMCO), a Bangladeshi multinational conglomerate holding company, to jointly issue Tk 3,000 core worth of sukuk Al Istisna bonds that are consistent with Islamic law. This partnership aims to purpose the construction of the solar projects of Teesta Solar Limited and Korotoa Solar Limited. Further, in June 2022, Abu Dhabi Islamic Bank (ADIB), a UAE-based Islamic bank collaborated with Visa Inc., a US-based provider of financial services. The partnership aims to further grow digital payments in the UAE, offering customer-centric solutions to ADIB cardholders.

In October 2022 AI Rajhi Bank Malaysia (ARBM), a Saudi Arabian bank partnered with Nomura Asset Management Malaysia for an undisclosed amount. With this partnership both banks aim to achieve to become Malaysia's top Islamic innovation bank, the bank offers syariah investments. Nomura Asset Management Malaysia Sdn Bhd is a Malaysia-based investor management firm.

The countries covered in the sukuk market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The sukuk market research report is one of a series of new reports from The Business Research Company that provides sukuk market statistics, including the sukuk industry global market size, regional shares, competitors with a sukuk market share, detailed sukuk market segments, market trends and opportunities, and any further data you may need to thrive in the sukuk industry. This sukuk market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.