Sukuks development on the African area during the period 2012-2016

Hamza Fariss, Akhrif Amin

Abstract


The purpose of this research is to study the development of African countries in terms of sukuk investment during the period 2012's - 2016's. The paper is going to be in three parts. The first part outlines basic principles of Islamic finance as well as a brief and general explanation of Islamic products. The second part is going to give more interest to sukuks, we define the main types and structures of this new and alternative financial instrument used as a new financing method for governments and private institutions in order to find new financing sources to satisfy their needs. As in the last years, the sukuks was increasingly taken into consideration in the world (Islamic and non-Islamic countries). So, the third and last part of this paper discusses the development of sukuks on the African area with an overview on the European territory.


Keywords


Sukuks, financing, African governments issuing, Islamic bonds, conventional bonds.

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