"Morocco is finalising a new securitisation law that will allow the state and companies to issue sukuk, the Islamic equivalent of bonds. Preparations for a corporate and a sovereign sukuk are already underway, according to Islamic finance experts.
Sukuk are Islamic financial certificates that represent ownership of tangible assets (as opposed to ownership of debt). Global sukuk issuance increased by 64 per cent last year to reach $138bn, according to rating agency Standard & Poor’s.
Only a few African countries such as Sudan and the Gambia have issued sovereign sukuk, according to S&P, but several have started considering the financial instruments, including South Africa, Egypt and Tunisia."
'via Blog this'
No comments:
Post a Comment