Mauritius has ‘missed the boat’ on sovereign sukuks, says central bank governor
Bank of Mauritius governor Rundheersing Bheenick is concerned the failure of the government to issue sukuks – an Islamic financial product similar to bonds – "severely compromises the prospect of our jurisdiction playing a bigger role in the growing world of international Islamic finance".
In his annual letter to stakeholders Bheenick noted the public debt management act was amended in 2008 to allow the government to issue sovereign sukuks, but these products are yet to materialise.
He said the
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