Highlights

Presentation workshop of the technical features of the sukuk certificates of financing, investment and investment portfolio : 01/03/2019

Presentation workshop of the technical features of the sukuk certificates of financing, investment and investment portfolio

The Directorate of Treasury and External Finance, supported by the World Bank, held, Wednesday February 27th 2019 in Rabat a workshop presenting the technical features of the sukuk certificates of financing, investment and investment portfolio.

Were present during this session professionals representing banks and participatory windows, securitization management companies, experts from the High Council of Ulema (CSO), representatives of the General Secretariat of the Government (SGG), financial sector regulators (BAM, AMMC and ACAPS) as well as representatives of the MEF directorates (DEPP and DGI).

This workshop, following the issuance of the first order in 2018 concerning the Ijara sukuk that led to issuing the first sovereign sukuk certificates in Morocco, is part of the continuous efforts to achieve the regulatory framework enabling the issuance of the different categories of sukuk and thus respond to the actors’ needs in participatory finance.

Conducted by legal experts, national and international professionals in participatory finance, this workshop was an opportunity to deeply discuss several issues related to the structuring of the financing sukuk issuance operation (Murabaha, salam) or the investment sukuk (walaka, moucharaka and moudaraba) towards the objective of finalizing the rules implementing the law 33-06 governing this component.

To be noted that the law 33-06 on the securitization of assets is the reference framework to implement the issue of sovereign and/or corporate sukuk.