News

Morocco to issue its first Sukuk this year

  • Comments   -   Tuesday, 10 April 2018 - 17:50

(Ecofin Agency) - 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)


Liquid Telecom Kenya struck a partnership agreement with Sigfox, specialized in Internet...
Read more |  17 August 2018
World Bank will grant a $15 million loan to Guinea-Bissau, Amadou Oumar Ba,...
Read more |  17 August 2018
The European Bank for Reconstruction and Development (EBRD) provides $44 million to support...
Read more |  17 August 2018
In a statement published on August 15, 2018, the Moroccan company Wafa...
Read more |  17 August 2018
MC Mining which operates Uitkomst coal mine announces that on Thursday 16,...
Read more |  17 August 2018
MTN Uganda, whose license will expire in October 2018, should list its...
Read more |  17 August 2018
The Liberian National Housing Authority NHA has initiated discussions with GELPAZ IMMO...
Read more |  17 August 2018

Copyright Agence Ecofin © 2018. All Rights Reserved.