International sukuk (Islamic finance) issuance value in Europe 2001-2018

This statistic shows the total value of international sukuk issuances within Europe between January 2001 and December 2018 (in million U.S. dollars). A sukuk is a financial certificate that complies with Islamic religious law. It has similarities to a bank bond in Western countries, with a difference being that sukuk relies on trust instead of debt. Due to compliance with the Sharia, Islamic finance aims to prioritize transparency, protection of investor's liabilities and certainty of outcome. Additionally, certain investments (such as in alcohol, gambling or pornography) are not allowed.

In recent years, some European countries have started to adopt Sharia-compliant banking to reach out to their Muslim communities. Luxembourg was the first European country to issue a sovereign sukuk on its own, due to the country's legal structures. In 2016, London was the leading center for Islamic finance in Western Europe. It was however still relatively small compared to Saudi Arabia, Malaysia, the United Arab Emirates, Kuwait, Qatar, Turkey, Indonesia, Bahrain and Pakistan.

Total value of international sukuk bond (Islamic finance) issuances in Europe between January 2001 and December 2018

Value in million U.S. dollars
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Release date

August 2019


France, Germany, Luxembourg, Turkey, United Kingdom

Survey time period

January 2001 to December 2018

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Statistics on "The financial sector in Luxembourg"

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