IslamicFinance.de

Hogan Lovells advised the Islamic Corporation for the Development of the Private Sector (ICD), as arranger, on the arrangement of an inaugural CFA 150 billion sukuk offering by the government of Ivory Coast. The debut sukuk is an amortising sukuk al-ijara targeted at local banks and institutional investors. The offering mirrors a successful Senegal sukuk that Hogan Lovells advised on in 2014. The team was led by the firm’s global head of Islamic finance, Rahail Ali, and partner Imran Mufti. They were assisted by debt capital markets partner Baptiste Gelpi, in, Paris and Lina Bugaighis, Dubai. Bensaid outlines the sukuk sector as very promising, referring to recent developments which have seen governments focusing more on creating a more enabling environment for sukuk issuances.