Holland & Knight authorised by IDB

HOLLAND & Knight has been mandated by the Islamic Development Bank (IDB) to develop a structure note that follows a proposed Musharaka Sukuk structure. IDB’s Financial Product Development Center pioneered the product concept and requested the SABIC Chair, ISRA and Holland & Knight to participate in this team effort to develop a considered and legally enforceable structure. The Sukuk will be developed in accordance with OIC Fiqh Academy rulings as well as AAOIFI Shari’ah Standards in order to appeal to a wider range of potential investors and issuers.