In the first half of 2025, the total issuances of green, social, sustainable, and sustainability-linked bonds (GSSS) in the Middle East and North Africa reached $9.47 billion, slightly down from $9.91 billion in 2024, according to data from Bloomberg’s Capital Markets League Tables.

The market was influenced by higher global interest rates and a slowdown in bond deals from Egypt and Qatar.

However, Saudi Arabia and the UAE maintained robust supply levels, keeping regional volumes relatively stable.

Saudi Arabia emerged as a leader in the GSSS bond market, accounting for 66 per cent of total issuances, totalling $6.25 billion in the first six months of 2025.

The largest single issuance was from the Saudi government, with Al Rajhi Bank and Saudi Electricity also making significant contributions.