Uzbekistan Could Make Its Green Sukuk Issuance Early Next Year

Discussing the planned Sukuk issuance, Director of Uzbekistan’s Capital Markets Development Agency, Atabek Nazirov, stated that Uzbekistan is looking to issue Green Securities which it plans to market as a Sukuk, in order to garner interest and increase appeal amongst Islamic finance investors.

Being new to the international securities market, Uzbekistan saw its first international sovereign security issuance in February 2019. Added to this, given President of Uzbekistan, Shavkat Mirziyoyev’s commitment to open up the economy to foreign investment (following over twenty years of closure), Nazirov believes that there is potential for Sukuk as well as conventional securities.

The Governmen...