KUALA LUMPUR (March 27): The size of the Islamic capital market (ICM) increased to RM2.32 trillion as at end-2022, from RM2.31 trillion as at end-2021, according to the Securities Commission Malaysia (SC)’s Annual Report 2022 released on Monday (March 27).
This comprised a total market capitalisation of shariah-compliant securities of RM1.14 trillion, and total sukuk outstanding amounting to RM1.18 trillion.
The ICM remained a key component of the Malaysian capital market, contributing 64.38% of its total size.
As at December 2022, shariah-compliant securities increased to 789, from 750 at end-2021, which constituted 81.17% of the 972 listed securities on Bursa Malaysia.
The market capitalisation of shariah-compliant securities stood at RM1.14 trillion or 65.58% of the total market capitalisation, a decrease of 5.46% as compared to end-2021.
Corporate sukuk issuances represented 81.66% (2021: 79.98%) of total corporate bond and sukuk issuances, while corporate sukuk outstanding accounted for 82.83% (2021: 81.42%) of total corporate bonds and sukuk outstanding.
Total sukuk issuances in 2022 represented 68.23% (2021: 62.91%) of total bonds and sukuk issuances, whereas total sukuk outstanding represented 63.27% (2021: 63.43%) of total bonds and sukuk outstanding.
Seven issuers issued sustainable and responsible investment (SRI) sukuk in 2022, bringing the total SRI sukuk issuers to 25 since 2015.
Corporate SRI sukuk issuances in 2022 amounted to RM10.58 billion, which was 8.45% of total corporate sukuk issuances, while corporate SRI sukuk outstanding grew to RM17.93 billion as at December 2022, from RM8.11 billion in 2021, constituting 2.69% of total corporate sukuk outstanding.
Islamic asset under management as at December 2022 stood at RM205.86 billion, registering a 8.43% decrease from RM224.80 billion as at end-2021.
The number of Islamic collective investment schemes, unit trust funds, wholesale funds, private retirement schemes, real estate investment trusts and exchange traded funds stood at 404 as at December 2022, including 20 Islamic SRI funds.
Meanwhile, there were 57 fund management companies (FMCs) managing Islamic funds, with 24 Islamic fund management companies and 33 FMCs offering Islamic windows as at December 2022.