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Morocco to resume sukuk issuance, says central bank governor
Morocco is preparing its second Islamic bond, or sukuk, issuance since 2018, Central Bank governor Abdellatif Jouahri said on Thursday.
The central bank and the ministry of finance are reviewing the technical aspects of the issuance, Jouahri told reporters without offering details on the amount of the bond.
The Higher Council of Ulema, Morocco's top religious authority, will assess whether the issuance complies with sharia, he said on the sidelines of the annual meeting of the Islamic Financial Services Board (IFSB), a Malaysia-based international standards-setting body that promotes Islamic finance.
Morocco's first sukuk issuance in 2018 raised 1-billion dirhams (R1.95bn) and matured in 2023.
The country permitted Islamic finance, locally known as participatory banking, in 2017 as part of a wider plan to bolster financial market liquidity and attract foreign investment.
