Morocco will issue its first bonds on Islamic market this year, Bloomberg reports today April 10.
According to Hicham Talby, head of the finance ministry’s treasury department, the country plans to issue four dirham-denominated sovereign sukuk.
While the first issuance would take much time than envisaged due to the implementation of a legal framework for the operation, authorities expect the process to be faster for the three other issuances planned. Therefore, the latter should be issued few months following the first one. No figure was however given on these bonds' value.
For the record, global sukuk issuance amounted to a record figure of $55.7 billion in 2017.
Let’s recall that Mali has already launched its first sukuk issuance for 2018. Likewise, South Africa and Sudan have recently announced their intention to follow the move in 2018.
Let’s also recall that the Moroccan government wants to establish a sovereign sukuk fund, ahead of an increase in dirham-dominated Islamic bonds, over the coming years.
Moutiou Adjibi Nourou (intern)
Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...
CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...
Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...
ECOWAS is proposing a regional digital platform for passengers to file and track complaints online...
World Bank announces $137 million to boost West Africa digital economy Program expands broad...
Ethiopia and Italy sign bilateral debt restructuring agreement Deal follows G20 framework, unlocking over $3.5 billion...
Central African Republic plans skilled trades chamber based on Burkina Faso model Initiative aims to boost youth training, jobs, and income...
Tunisie Telecom launches Kashy mobile wallet with Viamobile partnership App enables transfers, payments, top-ups, and cash withdrawals nationwide Move...
Rwanda launches Nyungwe-Ruhango ecosystem restoration project backed by GEF funding REMA to implement across Southern Province under Green Amayaga...
Event highlights growing role of diaspora entrepreneurs across multiple sectors Networks support trade, investment and SME...
Afreximbank launches Impact Stories season two highlighting trade-driven transformations Series features projects across Africa and Caribbean, from...