The Bourse Régionale des Valeurs Mobilières (BRVM) listed on October 18, 2016, on the sidelines of the second edition of the Africa Islamic Forum held in Abidjan, its first five Sukuk issued by Cote d’Ivoire, Senegal and Togo in the WAEMU Regional Finance Market.

This initial listing will boost attractiveness and liquidity of Islamic bonds, especially for individuals, while insuring the success of future issuances by the Union’s state-members.

Sukuk are innovative sources of financing for economies. Besides States, financial institutions and private companies are also invited to issue sukuks to finance WAEMU economies to speed the union’s growth. According to the BRVM’s chairmain, Mr. Pierre Atépa Goudiaby “the BRVM has accomplished its mission to organize the secondary market by listing, on the same day, five (5) SUKUK, from three (3) different countries, issued in local currencies: this is a first. It thus confirms its commitment to support the growth of Islamic finance within WAEMU”.

The Islamic Corporation for the Development of the Private Sector (ICD), branch of the Islamic Development Bank, is behind all these transactions with the cooperation of the Intermediation and Management Corporation and the Corporation for the Management of Securization Mutual Funds. It therefore confirmed its support to Africa’s development. Khaled Al Aboodi, Director General of IDC said: “the listing is one of the most important of the kind ever made in the world and ICD is proud to be part of its actors”