RIYADH: Global sukuk outstanding crossed $1 trillion by the end of the third quarter of 2025, representing a 15.5 percent year-on-year increase, driven by steady Islamic investor demand and issuers’ diversification needs, said Fitch Ratings.
In its latest dashboard, the credit rating agency revealed core markets issued about $80 billion of sukuk in the third quarter of 2025, making it the most active third quarter on record.
The surge occurred despite challenges including new Shariah requirements, geopolitical events in the Middle East, summer holidays, trade war uncertainties, and volatility in interest, foreign exchange, and commodity markets.
Bashar Al-Natoor, global head of Islamic Finance at Fitch Ratings, said: “Global sukuk issuance is likely to surpass 2024 this year due to lower rates, steady Islamic investor demand and issuers’ funding and diversification needs, with 2026 prospects being promising.”
He added: “Risks persist from new Shariah requirements, geopolitics and market volatility, but fundamentals are solid.”
