What to expect from Tunisia’s Islamic finance reforms

Author: Gemma Varriale | Published: 20 Mar 2012
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...