Tag Archives: Sukuk
S&P DJI’s Global Islamic Equity Benchmarks Surged Nearly 12% in the Final Quarter, Outperforming Conventional Benchmarks in 2023
Global equities witnessed a strong Q4 2023 as slowing inflation and the potential for lower interest rates improved market sentiment drastically. The S&P Global BMI rallied 11.4% for the quarter, finishing the year with an impressive 21.9% return. Middle East and North Africa (MENA) equities rose 6.4% in Q4, as measured by the S&P Pan…
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Tracking Shariah Compliance with Indices
How are indices helping expand the range of Shariah-compliant tools for market participants? S&P DJI’s John Welling and Chimera Capital’s Sherif Salem join Dubai Financial Markets’ Eric Salomons for a look inside how S&P DJI’s Shariah-compliant and Sukuk indices are helping investors evaluate and access local, regional, and global markets while adhering to Islamic law…
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Sukuk Market in 2017: Year in Review
In 2017, the USD sukuk market expanded at its quickest pace in the past five years. As tracked by the Dow Jones Sukuk Total Return Index (ex-Reinvestment), which seeks to track U.S. dollar-denominated, investment-grade sukuk, the market added 13 new sukuk with a total par amount of USD 20.75 billion. According to the index, sovereign…
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Strong USD Sukuk Issuance in 2017
The U.S. dollar-denominated, investment-grade sukuk market that the Dow Jones Sukuk Total Return Index (ex-Reinvestment) seeks to track has continued to expand. As of Aug. 10, 2017, the Dow Jones Sukuk Total Return Index (ex-Reinvestment) tracked 73 sukuk with a market value of USD 74 billion, which represented a growth of 20% YTD. A total…
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Longer-Maturity and Lower-Rated Sukuk Continue to Outperform
The Dow Jones Sukuk Total Return Index (ex-Reinvestment), which seeks to track USD-denominated, investment-grade sukuk, had a great start in 2017 and rose 1.24% year-to-date (YTD) as of Feb. 10, 2017. A total of 19 sukuk with total outstanding par of USD 15.75 billion were added into the index last year; however, no new sukuk…
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Sukuk Market in 2016: Year in Review
Global currency sukuk continued to expand in 2016. Increasing issuances were observed in U.S. dollar, Indonesian rupiah, and Pakistani rupee sukuk, though there were decreases in Malaysian ringgit and Bangladesh taka sukuk compared with last year.[1] The U.S. dollar and Malaysian ringgit sukuk continued to dominate the sukuk market. The Dow Jones Sukuk Index, which…
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Sukuk Market in 2015: Year in Review
The sukuk market demonstrated resilience despite the decline in oil price and global uncertainty; the Dow Jones Sukuk Index, which tracks USD-denominated, investment-grade sukuk, rose 1.24% in 2015, while the Dow Jones Sukuk High Quality Investment Grade Total Return Index gained 1.00% in the same period. Looking closer at index constituents, the underperformers were sukuk…
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The MENA Sukuk Market Expanded 14% YTD
The Middle East and North Africa (MENA) region recorded strong growth in the sukuk market in the first 10 months of 2015. The market value, as tracked by the S&P MENA Sukuk Index, rose 14% YTD to 37 billion, compared with the mere 1% growth in the conventional bond market in the region. The sukuk…
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Asian Fixed Income: Rising Momentum of Islamic Finance in China
In the Islamic Finance News Report “China- the time is now”, it highlighted a few initiatives that demonstrated the rising momentum of Islamic finance in China, see examples below, Chinese brokerage Southwest Securities forged a partnership with Qatar International Islamic Bank to pave the way for Islamic finance transactions in the country. The Qatari bank…
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Sukuk 2014 in Review
The Dow Jones Sukuk Total Return Index (Ex- Reinvestment) delivered a total return of 6.37% in 2014, which outperformed its 0.23% gain in the prior year; see Exhibit 1 for the index performance. Exhibit 1: Total Return Performance of the Dow Jones Sukuk Total Return Index (Ex-Reinvestment) With the continued growth in the sukuk market,…
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