The Role of Sukuk in Islamic Capital Markets
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3.4.2 ASIAN REGION
By sector, financial institutions have been the core sector raising sukuk to meet capital
adequacy requirements. Sectoral diversification can be observed in quasi-government and
corporate sukuk issuances originated in Indonesia and Malaysia (refer to Chart 3.8). In terms
of the number of issues and amount, however, Malaysia stands above its peers, as illustrated in
Tables 3.8 and 3.9. Elsewhere, sukuk issuances from Bangladesh, Hong Kong and Brunei have
all been by their governments and central banks.
Chart 3.8: Quasi-Government and Corporate Sukuk Issuances by Sector (2011-June 2017)
Source: Eikon-Thomson Reuters
Table 3.8: Asian Countries − Number of Domestic Sukuk Issuances by Country (2001-2016)
Country Number of sukuk issues Amount (USD million) % of the total value
Bangladesh 4 37 0.0
Brunei Darussalam 137 8,829 1.6
Indonesia 195 31,822 5.6
Iran 1 144 0.0
Malaysia 5,106 515,662 90.6
Maldives 1 3 0.0
Pakistan 71 12,006 2.1
Singapore 12 788 0.1
Sri Lanka 1 3 0.0
Total 5,528 569,295 100.0
Source: IIFM (2017, July)
Table 3.9: Asian Countries – International Sukuk Issuances by Country (2001-2016)
Country Number of sukuk issues Amount (USD million) % of the total value
China 1 97 0.2
Hong Kong 4 2,196 3.6
Indonesia 13 10,503 17.2
Japan 3 190 0.3
Malaysia 73 44,854 73.3
Pakistan 3 2,600 4.2
Singapore 4 711 1.2
Total 101 61,151 100.0
Source: IIFM (2017, July)