Mali issues its first Sukuk to 150 billion F CFA

Mali has just launched its first bond in the form of sukuk (bonds compatible with sharia) called « SUKUK State of Mali 6,25% 2018-2025 ».

The transaction involves the raising of 150 billion CFA francs (228,6 million) from the general public and institutional investors. The subscription period will run until February 16 2018.

This is an investment opportunity through units of a Common Creditor Fund (FCTC) offering a profit margin of 6,25% per annum, paid semi-annually over a period of 7 years, with 2 years of deferred for the repayment of capital.

Once collected, resources will help finance social and economic development projects in the country, including a program of about 3 665 social housing, including more 1 250 new builds.

The operation also received the Sharia Compliance Certificate from the Sharia Committee of the Islamic Development Bank Group.

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