Ivory Coast offers inaugural CFA 150 billion Sukuk

Ivory Coast offers inaugural CFA 150 billion Sukuk. The Sukuk is an amortising Sukuk al-Ijara and is targeted at local banks and institutional investors. It mirrors the Senegal Sukuk that Hogan Lovells advised on in 2014. Hogan Lovells' team was led by Global Head of Islamic Finance, Rahail Ali and Partner Imran Mufti. They were assisted by Partner Baptiste Gelpi, International Debt Capital Markets, Paris and Lina Bugaighis, Dubai. Hogan Lovells worked togehter with ICD for the issue. Imran Mufti commented that more sukuk from African issuers are expected in the near future. Zaky Sow, Sukuk Project Manager for ICD added that the Sukuk opens up a whole new stream of investment into the country.