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KUALA LUMPUR: CIMB Islamic Bank Bhd is the world’s overall top bookrunner of sukuk (Islamic bonds), with total sukuk issuance of US$3.15 billion (RM10.9 billion), according to the London-based Islamic Finance Information Service (IFIS).
In a statement yesterday, it said CIMB Islamic also topped the domestic sukuk market with sukuk issuance of US$2.87 billion, while Deutsche Bank led the international sukuk bookrunners league with sukuk issuance of US$951.85 million.
In its sukuk market report for the first half of 2007, it said the global sukuk market hit an all-time high with market value totalling US$24.5 billion in the first half of 2007, a 75% growth over the previous year.
The domestic sukuk market experienced a growth rate of 71.4% while the international sukuk market grew by 83.3% over the previous year.
“Sovereign sukuk issues also grew by 521% to US$4.4 billion, while Malaysian ringgit-denominated sukuk accounted for 70% of the market,” it said.
IFIS is an information service provided by ISI Emerging Markets for the syariah-compliant finance industry.
IFIS product manager Rakiya Sanusi said it had actively tracked the sukuk market from 2000 with a total volume of more than US$85 billion of sukuk issuances.
Commenting on IFIS’ report, CIMB Islamic chief executive officer Badlisyah Abdul Ghani said: “This report is very good. I am happy that the distinction between international issuance and domestic issuance has been done.
“It clearly identifies the lack of domestic market in the GCC (Gulf Cooperation Council) as a growth prospect. IFIS has again shown its strong developmental value proposition to the industry.”
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