Euromoney innovations in Islamic finance 2016: Malaysia

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There were a handful of jumbo sukuk to consider this year. Indonesia raised $2 billion in a single tranche, the largest ever. Hong Kong returned to the market after last year’s successful debut and raised $1 billion in trust certificates, pricing inside its debut. And there were big issues from sovereign-linked corporates, including Garuda, Petronas and Saudi Aramco.

Our pick of the bunch is Malaysia’s $1.5 billion sukuk, a two-tranche deal that attracted a $9 billion order book and included the longest-ever tenured sovereign sukuk, at 30 years (alongside a 10).