Sukuk Overview & Trends

Sukuk Overview & Trends Conference on the Role of Sukuk in Development Friday, 18th May 2012, Point Hotel Barbaros, Istanbul Ijlal Ahmed Alvi Chief E...
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Sukuk Overview & Trends

Conference on the Role of Sukuk in Development Friday, 18th May 2012, Point Hotel Barbaros, Istanbul Ijlal Ahmed Alvi Chief Executive Office IIFM

Contents  Global Sukuk Market Stats Overview & Trends  Where to Expect New Grow

Conference on the Role of Sukuk in Development, 18th May 2012, Istanbul

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Global Sukuk Issuances (All Currencies) Jan 2001 – 1Q 2012 (Amounts in USD Millions) 100,000.000

93,723

90,000.000 80,000.000 70,000.000 60,000.000

48,962 46,313

50,000.000 40,000.000

44,904

30,014 25,594

30,000.000 18,826 20,000.000 8,140

12,180

6,410

10,000.000 1,172

1,371

0.000 2001

2002

2003

2004

2005

2006

2007

Year

2008

2009

2010

2011

1Q 2012

SOURCE: IIFM SUKUK ISSUANCE DATABASE

Conference on the Role of Sukuk in Development, 18th May 2012, Istanbul

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Global Sukuk Issuances By Currency (Jan 2001 - 1Q 2012) Pakistani Rupees (PKR) USD 5,181 Million 1.53%

Malaysian Ringgit (MYR) USD 205,509 Million 60.87%

Qatari Riyals (QAR) USD 9,548 Million 2.83% Saudi Riyals (SAR) USD 16,592 Million 4.91% Sudanese Pounds (SDG) USD 13,214 Million 3.91%

Kuwaiti Dinars (KWD) USD 329 Million 0.10%

Singapore Dollars (SGD) USD 1,295 Million 0.38% United States Dollars (USD) USD 58,775 Million 17.41%

Jordanian Dinars (JOD) USD 119 Million 0.04% Iranian Riyals (IRR) USD 198 Million 0.06% Indonesian Rupiah (IDR) USD 10,298 Million 3.05%

British Pounds (GBP) USD 261 Million 0.08%

Euro EUR Gambian Dalasi (GMD) USD 221 Million USD 49 Million 0.07% 0.01%

Chinese Yuan Renminbi (CNY) USD 78 Million 0.02%

Yemeni Riyals (YER) Emirati Dirham (AED) USD 18.7 Million USD 8,185 Million 0.01% 2.42% Bahraini Dinars (BHD) Bruneian Dollars (BND) USD 4,772 Million USD 2,965 Million 1.41% 0.88% SOURCE: IIFM SUKUK ISSUANCE DATABASE

Conference on the Role of Sukuk in Development, 18th May 2012, Istanbul

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Global Sukuk Issuances By Country (Jan 2001 - 1Q 2012)

Pakistan USD 5,781 Million 1.71%

Malaysia USD 213,250 Million 63.16%

Qatar USD 11,783 Million 3.49% Saudi Arabia USD 24,532 Million 7.27% Singapore USD 192 Million 0.06%

Kuwait USD 2,355 Million 0.70% Jordan USD 119 Million 0.04% Japan USD 100 Million 0.03%

Iran USD 198 Million 0.06%

Indonesia USD 11,948 Million 3.54%

UAE USD 37,908 Million 11.23% Yemen USD 18.7 Million 0.01%

Gambia USD 49 Million Germany 0.01% USD 123 Million Brunei Darussalam 0.04% USD 2,965 Million 0.88%

Bahrain USD 11,455 Million 3.39%

Sudan USD 13,344 Million 3.95% Turkey USD 450 Million 0.13%

UK USD 271 Million 0.08% USA USD 767 Million 0.23%

SOURCE: IIFM SUKUK ISSUANCE DATABASE

Conference on the Role of Sukuk in Development, 18th May 2012, Istanbul

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Global Sukuk Issuances by Maturities (Jan 2001 - 1Q 2012) 2 to 5 years USD 105,289 Million 31.19%

1 Year or Less USD 109,410 Million 32.41%

6 to 10 years USD 66,382 Million 19.66%

41 to 50 years USD 586 Million 0.17% 31 to 40 years USD 5,822 Million 1.72%

21 to 25 years 26 to 30 years USD 5,639 Million USD 6,560 Million 1.67% 1.94%

11 to 15 years USD 20,415 Million 6.05% 16 to 20 years USD 17,505 Million 5.19%

SOURCE: IIFM SUKUK ISSUANCE DATABASE

Conference on the Role of Sukuk in Development, 18th May 2012, Istanbul

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Breakdown of Total Global Sukuk Issuance by Issuer Status Sovereign, Quasi Sovereign & Corporate Issues by Volume – All Currencies (Jan 2001 – Dec 2011)

Domestic Sukuk Sovereign USD 103,241 Million 47%

QuasiSovereign USD 7,313 Million 3%

International Sukuk Corporate USD 37,125 Million 65%

Corporate USD 108,322 Million 50%

Sovereign USD 13,985 Million 24%

QuasiSovereign USD 6,078 Million 11%

SOURCE: IIFM SUKUK ISSUANCE DATABASE Conference on the Role of Sukuk in Development, 18th May 2012, Istanbul

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Structural Breakdown of Domestic Sukuk Issuance (% by Volume) Sovereign, Quasi Sovereign & Corporate Issues – All Currencies (Jan 2001 – Dec 2011)

Mudaraba USD 9,123 4%

Murabaha USD 83,456 38%

Istisna‘a USD 3,469 2% Musharaka USD 44,413 20%

Ijarah USD 49,613 23%

Salam USD 1,683 1%

Exchangeable USD 408 0% Investment / Al Istithmar USD 8,978 4%

Bai' Al Tawarruq Principle USD 49 0%

Wakalah USD 2,125 1% Hybrid USD 2,283 1%

Bai' Al Inah Principle USD 1,637 1%

Bai' Bithaman Ajil USD 11,639 5%

SOURCE: IIFM SUKUK ISSUANCE DATABASE Conference on the Role of Sukuk in Development, 18th May 2012, Istanbul

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Structural Breakdown of International Sukuk Issuance (% by Volume) Sovereign, Quasi Sovereign & Corporate Issues – All Currencies (Jan 2001 – Dec 2011) Ijarah USD 25,168 44%

Mudaraba USD 4,725 8%

Exchangeable USD 6,190 11%

Murabaha USD 1,243 2%

Hybrid USD 2,854 5%

Al Wakalah BelIstithmar USD 1,201 2%

Musharaka USD 9,364 16% Wakalah USD 4,454 8%

Salam USD 1,990 4% SOURCE: IIFM SUKUK ISSUANCE DATABASE

Conference on the Role of Sukuk in Development, 18th May 2012, Istanbul

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Sukuk - Rate of Return Issue Date

Issuer

Issuing Currency

Amount (USD Millions)

Issue Type

Rate of Return per annum

24 Nov 2011

Abu Dhabi Islamic Bank

USD

500.00 Corporate

3.78 %

22 Nov 2011

Government of Bahrain

USD

750.00 Sovereign

6.27 %

06 July 2011

Government of Malaysia

USD

800.00 Sovereign

4.65 %

06 July 2011

Government of Malaysia

USD

1200.00 Sovereign

2.99 %

31 Oct 2010

Abu Dhabi Islamic Bank, UAE

USD

750.00 Corporate

3.75 %

25 Oct 2010

Islamic Development Bank

USD

500.00 Quasi-Sovereign

3.55 %

05 Oct 2010

Qatar Islamic Bank

USD

750.00 Corporate

3.86 %

01 Sep 2010

Celcom Transmission Berhad, Malaysia

RM

572.00 Corporate

5.50 %

10 Feb 2010

Government of Indonesia

IDR

862.00 Sovereign

8.70 %

07 Jan 2010

Dar Al Arkan, Saudi Arabia

USD

450.00 Corporate

10.75%

27 Nov 2009

General Electric US

USD

500.00 Corporate

3.4%

24 Sep 2009

Government of Bahrain

BHD

437.80 Sovereign

3.75 %

09 June 2009

Government of Bahrain

USD

750.00 Sovereign

6.25 %

14 May 2009

Government of Malaysia

RM

1420.80 Sovereign

5.00 %

23 April 2009

Government of Indonesia

USD

650.00 Sovereign

8.8 %

16 March 2009

Panerbangan Malaysia Berhad, Malaysia

RM

405.80 Quasi-Sovereign

3.85 %

25 Feb 2009

Government of Indonesia

IDR

464.50 Sovereign

12.00 %

13 Sep 2007

Government of Malaysia

RM

1060.61 Sovereign

3.58 %

05 June 2007

Silterra Malaysia Sdn. Berhad, Malaysia

RM

529.00 Corporate

3.90 %

12 March 2007

Rantau Abang Capital Berhad, Malaysia

RM

606.06 Corporate

4.10 %

29 Sep 2006

Khazanah Nasional Berhad, Malaysia

USD

750.00 Corporate

5.07 %

02 June 2006

Aaber Petroleum Investment Company, UAE

USD

460.00 Corporate

6.89 %

11 June 2005

Islamic Development Bank

USD

500.00 Quasi-Sovereign

3.74 %

Conference on the Role of Sukuk in Development, 18th May 2012, Istanbul

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Where to Expect New Growth  New Entrants , Africa, Indonesia, Oman, Saudi  Soviet Block , North America and Australasia  Takaful & Pension Investors  Government Initiatives  Local Currencies to Expand Yield Curve Reserve Benefit  Collateralised Funding  Repo Alternative  Innovation & Expansion of Asset Type (Local Currency Equity Linked , Real Asset Backed Sukuk)

Conference on the Role of Sukuk in Development, 18th May 2012, Istanbul

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Thank you

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