COMCEC Financial Outlook 2018
21
In 12 member countries, which accounted for 92% of the global Islamic Banking assets, Islamic
banking sector has reached systemic importance19 in the Financial Sector.
Figure 15: Islamic Banking Share in Total Banking Assets (%)
Source: IFSB 2018
2.4 Capital Market Sector
In addition to the recovery in global economic conditions, the capital market has been triggered
since the beginning of 2017 with the reduction of global policy uncertainties. Optimistic global
financial and liquidity environment that emerged this year led to an increase in the risk appetite
of investors, strengthening of stock exchanges and a decrease in financial volatility.
Sukuk Market
Sukuk remained attractive to issuers as well as a wide range of investors in various regions and
financial hubs. Total global issuance has increased 32% in volume fromUSD 87.9 billion in 2016
to USD 116.7 billion in 2017.
In 2017, the increase in sukuk issuance was mainly driven by regular issuances in Saudi Arabia,
Asia, GCC, Africa and some other regions. Malaysia continues to dominate the sukuk market.
However, shares from countries such as Indonesia, United Arab Emirates (UAE) and Turkey are
close behind in value of shares.
19 Share of Islamic Banking Sector in Total Banking sector>15%
100 100
61,8
51,5
39,3
25,7 24,9
20 19,8 19 15,5 14,1
0
10
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40
50
60
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100