https://www.youtube.com/watch?v=HTWUzjEpaOs
The Islamic Organization for Food Security (IOFS), in collaboration with the Ministry of Foreign Affairs of the Republic of Kazakhstan, organized the "Sukuk for Investments in Agriculture" workshop on June 22, 2023. The workshop aimed to explore the concept of Sukuk and its application in the agricultural sector. Notable speakers and experts delivered presentations on various aspects of Sukuk.
The workshop commenced with opening speeches from the Minister of Agriculture and the Deputy Minister of Foreign Affairs of Kazakhstan, followed by welcoming remarks from the Director General of IOFS. The first session focused on defining Sukuk and examining its Sharia compliance, with insights provided by industry experts. Presentations also highlighted the Sukuk-related activities of the Astana International Finance Center (AIFC) and explored legal aspects and the global Sukuk market.
The second session centered on the Sukuk market within the Organization of Islamic Cooperation (OIC) Geography. Discussions included the socioeconomic development aspect, UAE local currency Sukuk, ICD Sukuk in Kazakhstani Tenge (KZT), and the potential of Agriculture Sukuk for IOFS and Kazakh entities. The workshop concluded with a closing session featuring a Q&A session.
The workshop participants recognized the potential of Sukuk as a powerful tool for investment and financing. Embracing Sukuk offers opportunities for OIC Member States, including Kazakhstan, to reduce reliance on foreign debt, enhance liquidity in domestic capital markets, and attract foreign investments in the real economy.
