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...
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