Tunisia will opt for a simple decree amendment limited to
sukuk issuance before working on a global structure
for Islamic finance, according to local lawyers.
A finance ministry official announced the creation of the
Tunisian government’s latest pro-Islamic finance
initiative last week.
The key to launching a
platform for sukuk issuance in Tunisia is to make a
simple decree that would change two or three points of the
existing law to allow for sukuk issuance,
said Noureddine Ferchiou of Tunisian firm
Ferchiou & Associés.
These incremental amendments would include: drafting a
sukuk definition; establishing a regulator...