Nearly one third of the total sukuk issuance globally in 2023 was in Malaysian ringgit, the largest of any single currency. Following this was the U.S. dollar at just over ** percent, and the Saudi riyal at nearly *** percent. The vast majority of sukuk issued in 2023 were issued on domestic markets, in domestic currencies.
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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IFSB. (September 12, 2024). Distribution of total sukuk issuance worldwide in 2023, by currency [Graph]. In Statista. Retrieved July 12, 2025, from https://www.statista.com/statistics/1264358/distribution-sukuk-issuance-currency/
IFSB. "Distribution of total sukuk issuance worldwide in 2023, by currency." Chart. September 12, 2024. Statista. Accessed July 12, 2025. https://www.statista.com/statistics/1264358/distribution-sukuk-issuance-currency/
IFSB. (2024). Distribution of total sukuk issuance worldwide in 2023, by currency. Statista. Statista Inc.. Accessed: July 12, 2025. https://www.statista.com/statistics/1264358/distribution-sukuk-issuance-currency/
IFSB. "Distribution of Total Sukuk Issuance Worldwide in 2023, by Currency." Statista, Statista Inc., 12 Sep 2024, https://www.statista.com/statistics/1264358/distribution-sukuk-issuance-currency/
IFSB, Distribution of total sukuk issuance worldwide in 2023, by currency Statista, https://www.statista.com/statistics/1264358/distribution-sukuk-issuance-currency/ (last visited July 12, 2025)
Distribution of total sukuk issuance worldwide in 2023, by currency [Graph], IFSB, September 12, 2024. [Online]. Available: https://www.statista.com/statistics/1264358/distribution-sukuk-issuance-currency/
