Sukuk Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Sukuk Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $2160.55 billion In 2028 At A CAGR Of 18.8%.

The sukuk market size has grown rapidly in recent years. It will grow from $904.5 billion in 2023 to $1084.8 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to islamic finance growth, diversification of funding sources, infrastructure development, government initiatives, global sukuk issuance, increased cross-border transactions..

The sukuk market size is expected to see rapid growth in the next few years. It will grow to $2160.55 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to global economic recovery, belt and road initiative, sustainable and green sukuk, islamic fintech growth, diversity of sukuk structures, wealth management demand.. Major trends in the forecast period include innovation in sukuk structures, digitalization of sukuk issuance, enhanced regulatory frameworks, partnerships and cross-border collaboration, private sector participation..

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Sukuk Market Major Segments
The sukuk market covered in this report is segmented -

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

Key Driver - Rapid Urbanization Fuels Growth Of Sukuk Market

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.

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Prominent Trend - Strategic Partnerships Drive Growth And Innovation In 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.

Sukuk Market Players
Major companies operating in the sukuk market report are Abu Dhabi Islamic Bank PJSC, Al Baraka Group BSC, Al Rajhi Bank, Banque Saudi Fransi, Dubai Islamic Bank, Hongkong and Shanghai Banking Corporation, Kuwait Finance House, Malayan Banking Berhad, Qatar International Islamic Bank, Rashid Hussain Bhd Islamic Bank, Samba Financial Group SJSC, Ajman Bank, Citi Islamic Investment Bank, Emirates NBD Bank PJSC, Standard Chartered plc, Maybank Islamic Berhad, Qatar Islamic Bank, Commerce International Merchant Bankers Berhad, First Abu Dhabi Bank, Gulf International Bank, Islamic Development Bank, Kuwait International Bank, Mashreq Bank, National Bank of Abu Dhabi, Noor Bank, Oman Arab Bank, Sharjah Islamic Bank, Al Hilal Bank, Alinma Bank, Bank AlJazira, Bank Islam Brunei Darussalam, Bank Muamalat Malaysia Berhad, Bank Negara Indonesia, Bank of London and The Middle East, Dubai Financial Market, Islamic Financial Services Board, Nasdaq Dubai, London Stock Exchange .

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Largest And Fastest Growing Region In The Market
Saudi-Arabia was the largest region in the sukuk market in 2023. The regions covered in the sukuk market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Sukuk Market Report Structure
3. Sukuk Market Trends And Strategies
4. Sukuk Market - Macro Economic Scenario
5. Sukuk Market Size And Growth
…..
27. Sukuk Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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