The Ivory Coast has issued its second sukuk following the launch and issuing of sukuk from neighbouring Senegal and Togo.

STANDARD Bank is gearing up to commence banking operations in Ivory Coast after it secured a banking license.

(Ecofin Agency) - Cote d’Ivoire successfully proceeded to its first sukuk issue. The country was able to obtain $245 million (FCFA150 billion) from the WAEMU (West African Economic and Monetary Union) market by issuing Islamic bonds between November 20 and December 21, a release dated January 13, 2016, from the public treasury reveals.

Fitch Ratings has upgraded Cote d'Ivoire's Long-term foreign and local currency IDRs to 'B+' from 'B'. The Outlooks are Stable. The issue ratings on Cote d'Ivoire's senior unsecured foreign currency bonds have also been upgraded to 'B+'. from 'B' The Country Ceiling has been affirmed at 'BBB-' and the Short-term foreign currency IDR at 'B'.