Shariah Gaining Foothold in Africa Through Shariah Bond Offerings
On October 15, 2014 · In Africa, Gambia, Islamic Bonds, Kenya, Nigeria, Senegal, Shariah Bonds, South Africa, SUKUK, Tunisia
African markets are starting to open to Shariah finance, primarily through governments’ debut sales of sovereign sukuk (Shariah bonds). Regimes across Africa are using Shariah bonds as a way to attract cash-rich Islamic investors, with South Africa making a $500 million issue in September and Senegal raising 100 billion CFA francs ($208 million) in June. The Tunisian government could […]
The western African nation of Senegal has decided to issue a $200 million sukuk (Islamic bond). This is hardly surprising, given that, according to the Central Intelligence Agency, the nation is 94% Muslim… With the list of nations issuing sukuk as sovereign debt growing, the possibility truly exists that the majority of nations on earth […]
Categories
Archives