On the latest episode of the Debtwired! podcast, Mohamed Damak, Managing Director, Global Head of Islamic Finance at S&P Global Ratings, joins Debtwire CEEMEA's Mariam Meskin to delve into one of the latest developments in the sukuk market.
AAOIFI, the Accounting and Auditing Organisation for Islamic Financial Institutions, last year published its draft of Shariah Standard No. 62, which — if adopted as proposed — would alter the credit profile of sukuk from an asset-based structure to an asset-backed one.
The standard could be adopted and formalised by as soon as next year. Its implementation could "disrupt" the global sukuk market, as Mohamed outlines in this podcast.
In his capacity as Global Head of Islamic Finance at S&P Global Ratings, Mohamed leads their cross-practice analytical thought leadership initiatives and credit rating activities in the Islamic Finance sector globally.
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