Over one third of the total sukuk issuance globally in 2022 was in U.S. dollars, the largest of any single currency. Following this was the Malaysian ringgit at just over 33.4 percent, and the Saudi riyal at nearly 20 percent. While the U.S. dollar may have been the single largest currency, the vast majority of sukuk issued in 2020 were issued on domestic markets, in domestic currencies.
Distribution of total sukuk issuance worldwide in 2022, by currency
A "sukuk" is a financial certificate similar to a bond, but structured so as to comply with Islamic religious law (Sharia). The core difference is that a sukuk involves direct ownership in the asset/s the issuer purchases with the funds raised, whereas bonds are indirect debt obligations. Income received by the sukuk holder is therefore income generated by the underlying asset, whereas income from bonds is structured as interest payments.
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IFSB. (August 23, 2023). Distribution of total sukuk issuance worldwide in 2022, by currency [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264358/distribution-sukuk-issuance-currency/
IFSB. "Distribution of total sukuk issuance worldwide in 2022, by currency." Chart. August 23, 2023. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264358/distribution-sukuk-issuance-currency/
IFSB. (2023). Distribution of total sukuk issuance worldwide in 2022, by currency. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264358/distribution-sukuk-issuance-currency/
IFSB. "Distribution of Total Sukuk Issuance Worldwide in 2022, by Currency." Statista, Statista Inc., 23 Aug 2023, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264358/distribution-sukuk-issuance-currency/
IFSB, Distribution of total sukuk issuance worldwide in 2022, by currency Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264358/distribution-sukuk-issuance-currency/ (last visited November 10, 2024)
Distribution of total sukuk issuance worldwide in 2022, by currency [Graph], IFSB, August 23, 2023. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264358/distribution-sukuk-issuance-currency/