Publication:
Establishing a Legal Framework for Sovereign Sukuk Issuance: A Public Debt Management Perspective

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dc.contributor.authorWorld Bank
dc.date.accessioned2017-07-06T21:27:03Z
dc.date.available2017-07-06T21:27:03Z
dc.date.issued2017-06
dc.description.abstractA strong legal framework that forms the basis for the activities of debt managers is crucial for enabling an effective public debt management function. This paper aims to complement discussions on the legal foundations of debt management by detecting and discussing essential elements that allow the government to issue sukuk, the equivalent of bonds, in Islamic finance. Drawing on the cases of recent sovereign issuers, these discussions begin with outlining the clear provision of a mandate to issue and to employ certain public assets in the execution of underlying transactions, as well to establish, engage with, and administer Special Purpose Vehicles used in structuring these issuances. Additional aspects that need to be addressed are the treatment of proceeds and the assurance of investors with regards to debt service. The enabling environment should be complemented by changes in the taxation regime and financial market regulations that facilitate the issuances.en
dc.identifierhttp://documents.worldbank.org/curated/en/907001497472893193/Establishing-a-legal-framework-for-sovereign-sukuk-issuance-a-public-debt-management-perspective
dc.identifier.doi10.1596/27536
dc.identifier.urihttps://hdl.handle.net/10986/27536
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesMFM Discussion Paper No.18;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectDEBT
dc.subjectFINANCE
dc.subjectGROWTH
dc.subjectPOLICY
dc.subjectPUBLIC DEBT
dc.subjectFUNDS
dc.subjectSOVEREIGN DEBT
dc.subjectPUBLIC DEBT MANAGEMENT
dc.titleEstablishing a Legal Framework for Sovereign Sukuk Issuanceen
dc.title.subtitleA Public Debt Management Perspectiveen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleEstablishing a Legal Framework for Sovereign Sukuk Issuance
okr.date.disclosure2017-06-15
okr.doctypePublications & Research::Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/907001497472893193/Establishing-a-legal-framework-for-sovereign-sukuk-issuance-a-public-debt-management-perspective
okr.guid907001497472893193
okr.identifier.doi10.1596/27536
okr.identifier.doihttps://doi.org/10.1596/27536
okr.identifier.externaldocumentum090224b084ca2e8c_1_0
okr.identifier.internaldocumentum27586186
okr.identifier.report116308
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/907001497472893193/pdf/P161573-06-14-2017-1497472889089.pdfen
okr.topicPublic Sector Development::Public Financial Management
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Strategic Debt Management
okr.unitMacroeconomics and Fiscal Management Global Practice
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