The International Islamic Financial Market (IIFM) released the fourth edition of its IIFM Sukuk Report the IIFM Seminar held today (December 1)  in Bahrain on the pre-conference day of the 21st World Islamic Banking Conference.

The research report consists of a comprehensive study of the global Sukuk market and sheds light on the growth, trends and development of international and domestic Sukuk issuances for the period January 2001 – July 2014.

Khalid Hamad Abdul Rahman Hamad, chairman of IIFM said: “The report contains key statistics and data on various markets, which are not easily available otherwise in a consolidated form in one place. We are confident that you will find this report informative and helpful in understanding the developments in the Sukuk market globally.”

Ijlal Ahmed Alvi, chief executive officer of IIFM said: “The upward trend which started in 2011 has continued as predicted in the last IIFM Sukuk report. The year 2014 will most likely finish close to the year 2013 Sukuk issuance volume of $130-plus billion. During the period 2013 to YTD 2014, many milestones were established in the market such as 30 year tenor Sukuk, perpetual Sukuk, Tier 1 & Tier 2 Sukuk by financial institutions, multi-currency Sukuk program and sovereign Sukuk issuances from African, European and Asian jurisdictions.”

The report highlights the different Sukuk structures used by international Sukuk issuers as well as Sukuk structures used at domestic level by various jurisdictions active in the Sukuk market. The report also highlights the number of countries issuing Sukuk in their respective currencies hence increasing need to hedge the currency exposure particularly to international investors.

The report contains selected Sukuk case studies in the international Sukuk market providing deeper understanding of the mechanism and uniqueness of some of the structures.

A special feature of this report covers detailed information on Sukuk market in IIFM member countries which not only include primary Sukuk issuances but also secondary market trading and processes.

“IIFM is thankful to the Central Bank of Bahrain for its constant and continued support as well as to the IIFM Board of Directors, member institutions and contributors to the report. Special thanks go to Standard Chartered Saadiq, Abu Dhabi Islamic Bank, ABC Islamic Bank and Labuan FSA for sponsoring the publication of this fourth edition”, concluded Alvi. – TradeArabia News Service


Photo caption: (From L to R) Adimarhain Leman (assistant MD, Autoriti Monitari Brunei Darussalam), Ijlal Ahmed Alvi (CEO, IIFM), D. Halim Alamsyah (deputy governor, Bank Indonesia), Khalid Hamad (chairman, IIFM), Dr Elgaili Mohamed Elbashir (deputy governor, Central Bank of Sudan)