100
Chart 4.19: UAE Sukuk vs Conventional Issuance (2006-June 2017)
Source: Bloomberg
Among the GCC countries, the UAE ranks second after Saudi Arabia, with total sukuk issuance
of USD3.23 billion as at end-June 2017, signifying 15% of total GCC sukuk issuance. Its
outstanding amount of USD30.44 billion accounted for only 27% of total outstanding GCC
sukuk as at end-June 2017. This was mainly due to Saudi Arabia’s USD9 billion dual-tranche
debut sovereign sukuk in April 2017, which had raised the total issuance value and
outstanding sukuk amount in the GCC market. As at end-June 2017, the total value of sukuk
raised by GCC issuers summed up to USD21.52 billion while the total outstanding amount for
the GCC market hit USD113.66 billion, an increase of USD14.34 billion over the previous
corresponding period (refer to Charts 4.20 and 4.21, respectively).
Chart 4.20: UAE vs GCC Total Sukuk Issuance (2006-June 2017)
Source: Bloomberg