GCC banks are set to deliver another strong year of US dollar debt issuance in 2025, with volumes projected to exceed USD 60 Bn, or USD 40 Bn excluding certificates of deposit (CDs), according to Fitch. The increase is being driven by large upcoming maturities, strong credit growth, and favourable financing conditions.

GCC Sukuk and bond issuances declined 22.1% YOY to USD 100.3 Bn in 1H25 from USD 128.8 Bn in 1H24. According to Kamco Invest, the contraction was primarily attributed to a steep drop in government issuances, which fell to USD 36.6 Bn in 1H25 from USD 76.9 Bn in 1H24.

GCC Sukuk and bond issuances recorded a decline in 1H25. According to Markaz, total primary debt issuances in the region fell 5.5% YOY to USD 92.04 Bn, compared to USD 97.36 Bn in 1H24. Saudi Arabia remained the largest issuer, contributing 52.1% of the total, however its issuance volume declined 19.8% YOY to USD 47.93 Bn during 1H25.

The GCC Debt Capital Market (DCM) totalled USD 1 Tn in outstanding issuances across all currencies, reflecting a 10% YOY growth in 1Q25. According to Fitch Ratings, DCM issuances grew 11% QOQ but declined 3% YOY to USD 89 Bn in 1Q25. Saudi Arabia accounted for the largest share of total outstanding issuances at 45.1%, followed by the UAE at 29.9% a...

The GCC Debt Capital Market (DCM) totalled USD 1 Tn in outstanding issuances across all currencies, reflecting a 10% YOY growth in 1Q25. According to Fitch Ratings, DCM issuances grew 11% QOQ but declined 3% YOY to USD 89 Bn in 1Q25. Saudi Arabia accounted for the largest share of total outstanding issuances at 45.1%, followed by the UAE at 29.9% a...

The GCC bonds and Sukuk issuance recorded a decline during 1Q25. According to Markaz, the total value of primary debt issuances declined 7.1% YOY to USD 51.5 Bn in 1Q25, compared to USD 55.5 Bn in 1Q24. Despite the overall contraction, the GCC corporate primary issuances demonstrated robust growth, rising 45.3% YOY to reach USD 32.1 Bn, constitutin...

The global Sukuk market is expected to experience a slowdown in 2025. According to Moody’s, global sukuk issuance surged 21% YOY to USD 242 Bn in 2024, driven primarily by strong issuances from financial institutions in Saudi Arabia and the UAE. However, the global Sukuk issuance is projected to decline to c.USD 210-220 Bn in 2025.

The GCC bonds and Sukuk issuance recorded strong growth during 2024. According to Markaz, the total primary debt issuance of Bonds and Sukuk in the GCC grew 55.1% YOY to USD 147.9 Bn through 296 issuances during 2024. The strong growth in issuances was supported by the GCC sovereign and private entities. Total GCC corporate primary issuances increa...

The GCC bonds and Sukuk issuance grew strongly during January 2025 and is expected to reach between USD 190 Bn and USD 200 Bn in 2025, following robust debt market performance in 2024. Total Sukuk issuance amounted to USD 193.4 Bn in 2024, slightly lower than the USD 197.8 Bn Sukuk issuance in 2023.