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| 07 June, 2018

Morocco to issue first sovereign Islamic bond worth $105mln: minister

The legal framework is now prepared for Morocco to issue its first sovereign sukuk in the coming weeks

Moroccan Minister of Finance Mohamed Boussaid speaks during the first meeting on financial reporting in the city of Casablanca May 13, 2015.

Moroccan Minister of Finance Mohamed Boussaid speaks during the first meeting on financial reporting in the city of Casablanca May 13, 2015.

REUTERS/Youssef Boudlal

RABAT: Morocco is preparing to issue its first sovereign Islamic bond, or sukuk, worth 1 billion dirhams ($105 million) in the coming weeks after adopting a regulatory framework governing sukuk sales, Finance Minister Mohamed Boussaid said on Thursday.

"The legal framework is now prepared for Morocco to issue its first sovereign sukuk in the coming weeks," Boussaid told Reuters by phone.

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(Reporting by Ahmed Eljechtimi Editing by Aidan Lewis, Larry King) ((Aidan.Lewis@tr.com; +216-29850352;))