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BUSINESS • 20/03/2025 03:07 PM

Islamic Capital Market Remains Substantial Contributor To Overall Capital Market

KUALA LUMPUR, March 20 (Bernama) -- The Islamic Capital Market (ICM) continues to play a significant role, accounting for 63.04 per cent of the overall capital market.

In its Annual Report 2024 released today, the Securities Commission Malaysia (SC) said the ICM expanded by 8.5 per cent year-on-year (y-o-y), increasing from RM2.42 trillion in 2023 to RM2.63 trillion as at end-2024.

The ICM comprises of Shariah-compliant securities, with a total market capitalisation of RM1.30 trillion, as well as sukuk, with a total amount outstanding of RM1.32 trillion.

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On Shariah-compliant securities, the SC said that as of end-2024, the number of Shariah-compliant securities increased from 811 to 822, constituting 79.11 per cent of the total 1,039 listed securities on Bursa Malaysia.

"The market capitalisation of Shariah-compliant securities increased to 11.71 per cent y-o-y, standing at RM1.30 trillion or 62.96 per cent of the total market capitalisation," it said.

Meanwhile, corporate sukuk issuances accounted for 74.36 per cent (2023: 77.25 per cent) of total corporate bonds and sukuk issuances, while corporate sukuk outstanding constituted 84.58 per cent (2023: 83.96 per cent) of total corporate bonds and sukuk outstanding.

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The total sukuk issuances in 2024 made up 62.56 per cent (2023: 60.84 per cent) of total bonds and sukuk issuances, whereas total sukuk outstanding comprised 63.12 per cent (2023: 63.20 per cent) of total bonds and sukuk outstanding.

It also said 20 issuers issued Sustainable and Responsible Investment (SRI) Sukuk and SRI Sustainability-Linked Sukuk in 2024, bringing the cumulative number of SRI Sukuk issuers to 48 since this classification was introduced in 2015.

Corporate SRI sukuk issuances in 2024 amounted to RM9.98 billion, which was 10.81 per cent of total corporate sukuk issuances for the year, while corporate SRI sukuk outstanding increased to RM34.46 billion as at December 2024 (2023: RM26.32 billion), constituting 4.75 per cent of total corporate sukuk outstanding.

In terms of Islamic Fund Management, Islamic assets under management (AUM) rose by 8.82 per cent year-on-year to RM246.09 billion as at December 2024 from RM226.14 billion previously.

Total number of Islamic collective investment schemes (CIS) such as unit trust funds, wholesale funds, Private Retirement Scheme, real estate investment trusts and exchange-traded funds stood at 422 as of December 2024, which includes 30 Islamic SRI funds.

Additionally, there were a total of 62 fund management companies overseeing Islamic funds, comprising 24 full-fledged Islamic fund management companies and 38 fund management companies with Islamic windows as at December 2024.

-- BERNAMA


 

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