The global sukuk market demonstrated its resiliency in 2020 amid the Covid-19 pandemic as issuers and borrowers continued to take advantage of this pool of liquidity under the prevailing low interest rate environment to raise their funding requirements. According to estimates by Malaysia International Islamic Financial Centre ( MIFC ), the total global sukuk issuance amounted to US$174.2 billion during the year, representing an increase of 10.4% from US$157.8 billion in 2019.