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Tunisia Starts Preparatory Work for Debut Sukuk Issuance

Source: www.export-egypt.com 5/10/2017, Location: Africa

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The government of Tunisia is preparing its first ever issuance of a sukuk with the Tunisian stock exchange, Bourse de Tunis, and Nasdaq Dubai, according to a statement issued by Nasdaq Dubai

Preparation work will consider commercial, legal and regulatory issues, including sharia-compliance aspects, ahead of potential sukuk issues aimed at both domestic and international investors.

Tunisia needs about $2.85 billion in external funding in 2017 and plans to issue a sukuk, or Islamic bond, of $500 million to cover its budget deficit, the then finance minister Lamia Zribi told in January.

It issued a €850 million bond with a seven-year maturity in February.

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