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Research Reports

GCC Bonds and Sukuk Market Survey 2021

January, 2022

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Executive Summary

  • Sustained Growth: GCC Fixed Income markets continue to see significant issuing activity on the back of a global pandemic, where GCC states raised a total of USD 143.2 billion during the year of 2021 - marking a growth of 8% year-on-year, surpassing 2020's record year. Fixed Income markets have become a vital source of funding for GCC governments as well as corporates as the implications behind Covid-19 continue to result in stricter operating environments.
  • Diversified Market: GCC Bonds and Sukuk issuances cover a fair spectrum of sectors, growing number of corporate and sovereign issuers and maturities, providing an opportunity to construct well-diversified portfolios to mitigate risks.
  • Outperforming Peers: Although the GCC Bloomberg Barclays Aggregate Index has recorded a marginal return for 2021, the index outperformed other fixed income indices during the year, evidence of the attractiveness of the GCC Bonds and Sukuk markets.
  • Attractive Yields and Ratings: The GCC continues to maintain positive-yielding debt that is supported by high credit ratings and the majority of which are issued in USD.

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