RIYADH: Global sukuk issuance dropped to $74.5 billion in the first half of 2022, compared to $93.3 billion during the same period in 2021, according to a report issued by S&P Global Ratings. The rating agency predicted that shrinking global liquidity, increasing complexity related to regulatory standards, and lower financing needs in some core Islamic finance markets could hold back the issuance for the remainder of the year as well. The report further estimated that global sukuk issuances for 2022 will be about $130 billion compared to 147.4 billion in 2021. In January, S&P predicted that sukuk issuance volumes in 2022 will not grow significantly as global interest rates rise and funding needs for Gulf economies fall.