Sizeable Growth in Sukuk

Islamic sukuk issued by private companies posted substantial growth in the first half of the current fiscal year (March 21-Sep.22). 
Value of the corporate bonds reached 67 trillion rials ($250 million) by end of the second quarter, rising 182% compared to 24 trillion rials ($88m) in the corresponding period last year. 
Corporate bond issuance has increased in value and in the number of companies willing to use this financial product. The number of issuing companies was two with bonds worth 4.35 trillion rials ($16m) five years ago compared to 11 companies in the first half of the present fiscal year.