Saudi Arabia regains position as global leader in sukuk, Islamic financing: Bloomberg

For the 12 months period ending Dec. 31, 2021, the Kingdom issued sukuk and Islamic financing totaling over $32 billion, compared to around $26 billion in Malaysia. 
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Updated 30 March 2022
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Saudi Arabia regains position as global leader in sukuk, Islamic financing: Bloomberg

RIYADH: Saudi Arabia has surpassed Malaysia as the world’s biggest issuer of sukuk and Islamic finance in 2021 for the first time since 2018, according to data from Bloomberg. 

For the 12 months period ending Dec. 31, 2021, the Kingdom issued sukuk and Islamic financing totaling over $32 billion, compared to around $26 billion in Malaysia. 

The surge is attributed to the government and corporate issuances increasing by 57 percent from 2020 and the Kingdom’s largest single sukuk issuance of $3 billion issued in October 2021. 

Green finance has also contributed to the rise in Saudi Arabia’s Islamic finance sector during 2021 with the $2.5 billion sustainability sukuk issued by the Islamic Development Bank.

Additionally, the UAE rounded out the top 3 places with around $14 billion in total issuances. 


Mawani, Qatar Ports ink cooperation deal to boost regional maritime trade 

Updated 18 February 2026
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Mawani, Qatar Ports ink cooperation deal to boost regional maritime trade 

RIYADH: The Saudi Ports Authority, or Mawani, and Qatar Ports Management Co. signed a memorandum of understanding aimed at boosting maritime and logistics cooperation, contributing to the development of the ports sector, raising operational efficiency, and supporting regional and international trade flows. 

The MoU was signed by Mawani President Suliman Al-Mazroua and Qatar Ports Management Co. CEO Abdullah Mohammed Al-Khanji, in the presence of Qatari Ambassador to Saudi Arabia Bandar bin Mohammed Al-Attiyah. 

The step reflects both sides’ commitment to building effective partnerships, exchanging expertise, establishing an organized framework for cooperation management, and developing joint investment opportunities in line with Saudi Vision 2030 and Qatar National Vision 2030. 

The MoU outlines eight key areas of cooperation, including the exchange of best practices in port management and operations, and studying opportunities for direct maritime and land connectivity between the two countries’ ports to enhance trade efficiency. 

It also includes collaboration in logistics services, exploring the establishment of joint maritime corridors serving bilateral and regional trade, and assessing the feasibility of creating shared regional distribution centers. 

Both parties agreed to enhance cooperation in digital transformation and artificial intelligence, focusing on smart systems, data governance, and a unified maritime window to improve operational efficiency and remain at the forefront of technological progress in the maritime sector. 

The MoU emphasizes maritime safety and environmental protection, including the exchange of expertise on marine pollution control and emergency response, the development of joint maritime emergency plans, and the establishment of a bilateral emergency communication line.  

It also promotes collaboration to ensure compliance with international conventions, conduct joint exercises, and implement risk-monitoring systems. 

Cooperation further extends to human capital development through joint training programs and on-the-ground expertise exchanges, as well as academic and research partnerships in maritime transport and logistics. 

Regarding joint investment, both parties will explore local and international opportunities in ports and related services, coordinating with the private sector to support these initiatives. 

The MoU also includes cooperation in cruise tourism through enhanced maritime connectivity and joint promotion of Gulf cruise routes, as well as coordination of positions in international maritime organizations and support for joint initiatives, notably “Green Ports” and “Safe Sea Corridors.” 

This memorandum reflects the commitment of Mawani and Qatar Ports Management Co. to advancing the ports sector and boosting its role as a key driver of trade and economic growth, contributing to Gulf integration, and enhancing regional competitiveness in maritime services.