ISRA Consulting, Success Stories

Regulatory framework for Sovereign Sukuk Issuance for the Ministry of Finance, Afghanistan

01
Aug

The ISRA Consulting team, led by Prof. Dr. Ashraf bin Md Hashim, is undertaking a project to develop a Regulatory Framework for Domestic Sovereign Sukuk Issuance in Afghanistan. During their visit to Kabul, the team met with senior officials from the Ministry of Finance, Ministry of Justice and Da Afghanistan Bank (the Central Bank of Afghanistan). The team members include Dr. Muhammad Syahmi bin Mohd Karim, Dr. Noor Suhaida binti Kasri, Dr. Mohamed Eskandar Shah bin Mohd Rasid and Mezbah Uddin Ahmed.

In addition to the site visit in Afghanistan, a 2-day training session was held in Malaysia for delegates from Afghanistan’s Ministry of Finance. The training aimed to:

  1. Provide an overview and understanding of the fundamentals of sukuk.
  2. Offer first-hand experience with sukuk-related information from relevant Malaysian regulators, including the Securities Commission Malaysia, Central Bank of Malaysia, and Malaysian Exchange House.
  3. Facilitate the exchange of experiences and best practices in the issuance and management of sukuk.

This initiative is designed to help Afghanistan establish a robust framework for issuing sovereign sukuk, thereby enhancing their financial infrastructure and aligning with Islamic financial principles.