A "sukuk" is a financial certificate similar to a bond, but structured so as to comply with Islamic religious law (Sharia). The core difference is that a sukuk involves direct ownership in the asset/s the issuer purchases with the funds raised, whereas bonds are indirect debt obligations. Income received by the sukuk holder is therefore income generated by the underlying asset, whereas income from bonds is structured as interest payments.
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Distribution of sovereign sukuk issuance globally 2022, by country
In terms of assets, sukuk issued by Saudi Arabia constituted **** percent of the sovereign sukuk issued globally in 2022, well above the ****Â percent issued by second-placed Malaysia. Sovereign sukuk accounted for just over half of the overall global sukuk issued in 2022.
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IFSB. (August 23, 2023). Distribution of total sovereign sukuk issuance worldwide in 2022, by country [Graph]. In ÌÇÐÄÆÆ½â°æ. Retrieved August 04, 2026, from /statistics/649298/distribution-of-sovereign-sukuk-issuance-by-country/
IFSB. "Distribution of total sovereign sukuk issuance worldwide in 2022, by country ." Chart. August 23, 2023. ÌÇÐÄÆÆ½â°æ. Accessed August 04, 2026. /statistics/649298/distribution-of-sovereign-sukuk-issuance-by-country/
IFSB. (2023). Distribution of total sovereign sukuk issuance worldwide in 2022, by country . ÌÇÐÄÆÆ½â°æ. ÌÇÐÄÆÆ½â°æ Inc.. Accessed: August 04, 2026. /statistics/649298/distribution-of-sovereign-sukuk-issuance-by-country/
IFSB. "Distribution of Total Sovereign Sukuk Issuance Worldwide in 2022, by Country ." ÌÇÐÄÆÆ½â°æ, ÌÇÐÄÆÆ½â°æ Inc., 23 Aug 2023, /statistics/649298/distribution-of-sovereign-sukuk-issuance-by-country/
IFSB, Distribution of total sovereign sukuk issuance worldwide in 2022, by country ÌÇÐÄÆÆ½â°æ, /statistics/649298/distribution-of-sovereign-sukuk-issuance-by-country/ (last visited August 04, 2026)
Distribution of total sovereign sukuk issuance worldwide in 2022, by country [Graph], IFSB, August 23, 2023. [Online]. Available: /statistics/649298/distribution-of-sovereign-sukuk-issuance-by-country/