Capital Markets 195
TABLE 9.5 Sukuk issuance by issuer type
Issuance Type 2005 2006 2007 2008 2009 2010
Sovereign 3 32 42 38 66 128
Quasi Sovereign 3 12 21 27 90 39
Corporate 82 164 137 134 600 512
Total 88 208 200 199 756 679
TABLE 9.6 Total sukuk issuance by issuer type (US$ million)
Issuance Type 2005 2006 2007 2008 2009 2010
Sovereign 706 1,423 5,337 1,839 12,781 24,004
Quasi Sovereign 574 7,021 13,919 5,087 12,463 7,925
Corporate 9,942 17,693 25,671 9,758 6,646 9,634
Total 11,223 26,137 44,927 16,684 31,890 41,564
TABLE 9.4 League table for sukuk issuance
From 2005-01-01 to 2009-12-31Ranking Bookrunner / Lead Manager Amount (US$m) Issues
1 CIMB Islamic 12,179.19 94
2 HSBC Amanah 9,011.77 54
3 Citigroup 3,128.84 19
4 Barclays Capital 2,840.54 8
5 Deutsche Bank 2,588.53 8
6 Standard Chartered Bank 2,438.01 30
7 ABN-Amro Bank Bhd 2,392.20 4
8 Bank Negara Malaysia 2,388.45 2
9 Dubai Islamic Bank 2,344.54 14
10 JP Morgan 2,033.33 3
Source: IFIS
Table 9.7 provides a breakdown of the sukuk market by currency in
each sector. Although sukuk have been issued in several currencies, two
currencies — US dollars and Malaysian Ringgit (MYR) — dominate all the
sectors. While the size of sukuk issuance is growing, it remains very small by
comparison with global conventional securitized and debt markets.