Driven by its strategic theme of “SDG Financing and Impact Investment”, G-NEXID held a webinar on “Green Sukuk and Resource Mobilisation for Sustainable Infrastructure in Sub-Saharan Africa” on 13 September 2021 with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
As instruments of Islamic capital markets, Sukuk, as such, are generally regarded as being the Shari’ah-compliant equivalent of conventional fixed-income bonds and are regarded as key in mobilising resources for sustainable infrastructure as show the emerging trends of ‘green sukuk”.
Against this background, the presentation focused on ICIEC Green Sukuk Insurance Policy in Member Countries.
ICIEC is represented in the following African regions:
East and Central Africa: Cameron, Chad, Comoros, Djibouti, Gabon, Mozambique, Uganda.
West Africa: Benin, Burkina Faso, Côte d’Ivoire, Gambia, Guinea, Mali, Niger, Nigeria, Senegal.
The webinar was followed by a business dialogue as several G-NEXID members expressed a strong interest in the emerging possibilities of green sukuk in addressing the sustainable infrastructure gap in Sub-Saharan Africa.
Key issues if interest included eligibility criteria, structure, and its role in credit enhancement.