ICD & UGFS Organize Workshop on the Practical Aspects of Sukuk Issuance

Tunisia - The Islamic Corporation for the Development of the Private Sector (ICD) and United Gulf Financial Services-North Africa (UGFS) are pleased to announce the successful conclusion of a virtual capacity-building workshop on Short-Term Sukuk and Liquidity Management.  

The workshop, held on October 2, 2023, concentrated on enhancing understanding of the fundamental principles that form the foundation of local currency Sukuk and the importance of the enabling legal and regulatory environment within the capital market domain. Furthermore, the technical workshop focused on the practical aspects of Sukuk issuance.

The workshop is part of ICD’s capacity-building programs aimed at developing the competence and capacity of professionals working in financial institutions in member countries to deepen their understanding of the Sukuk instrument as an important foundation for the development of the local capital markets.

Further, the topics discussed at the workshop ranged from ICD’s capital market solutions, fundamentals of creating friendly Sukuk law and methods of Sukuk auctions. Several case studies were presented during the workshop including ICD’s tenge-denominated Sukuk which is a new asset class that was introduced in 2023 to the Kazakhstani fixed-income market.

ICD & UGFS hope that such a workshop will raise awareness of the importance of local currency sukuk across ICD member countries.

It is worth mentioning that ICD has advised several governments on their debut sales of Sukuk, including Senegal, Jordan, Togo, Mali, Maldives, and Ivory Coast.

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