Women Empowerment Sukuk: Noble Goal with Challenges

Women Empowerment Sukuk: Noble Goal with Challenges

https://islamicmarkets.com/articles/women-empowerment-sukuk-noble-goal-with-challenges
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The concept of utilizing sukuk proceeds for the empowerment of working-women is new to this niche industry and it is yet to be adopted. This noble goal will need the support of beyond Islamic finance stakeholders and investors in order to thrive as there are many challenges ahead of its implementation.

Probably the only reference for Women Empowerment Sukuk (WES) came in October 2018 by the New York-based Near East Foundation (NEF) who was planning, at that time, to issue the first tranche of $14.94 million of a developmental impact sukuk, a world first, to fund Syrian women refugees in Lebanon and Jordan. Up until now there is no confirmation if such issuance has taken place.

Use of proceeds

It was reported that the issuer int...