BRVM completes the listing of five sukuks

Oct 21, 2016

The Islamic bonds amounted to a total of 766 billion CFA francs.

The Regional Stock Exchange (BRVM) has listed, on October 18th, five Islamic bonds issued by Côte d'Ivoire, Senegal and Togo on the WAEMU market.

The Islamic bonds amounted to a total of 766 billion CFA francs (€1.2 billion).

In a statement, the BRVM said this first listing will enhance the attractiveness and liquidity of its Islamic bonds, while ensuring the success of future emissions from WAEMU states.

The Chairman of the Board of the BRVM, Pierre Atépa Goudiaby, said the "BRVM has accomplished its organisational task on the secondary market, by listing, on the same day, five sukuks issued by three countries in local currency - a first. It confirms its commitment to support the development of Islamic finance in the WAEMU."

Khaled Al Aboodi, Chief Executive of the Islamic Corporation for Private Sector Development (ICD), which is the architect of these operations, described the listing as "one of the most important ever achieved worldwide".ADNFCR-2976-ID-801827073-ADNFCR