Sukuk & Islamic Capital Markets
A sukuk is not an Islamic bond — it is an ownership claim engineered to behave like one, and the difference decides everything in distress.
Format
Classroom · Virtual
Upcoming sessions
Pick a session to applyADMISSIONS OPENThe programme
Sovereigns and corporates across the Gulf, Asia and Africa now fund routinely in the sukuk market — and every issue rests on a structure most participants have never opened. This programme opens it: the main sukuk structures — ijara, wakala, murabaha, hybrid — from asset selection through SPV mechanics to periodic distributions and dissolution; the credit and Sharia analysis investors and rating agencies actually run, including what asset-backed versus asset-based means when things go wrong; issuance mechanics from mandate to listing; and the wider market — Islamic funds, equity screening and indices.
What you will do
Who attends
Treasury and capital markets teams; investment bankers and DCM professionals; institutional investors and analysts; regulators and central bank staff covering sukuk markets.
Programme agenda
Built for the decisions no textbook prepares you for
I.The structures
- Ijara, wakala, murabaha and hybrid sukuk — anatomy of each
- The SPV: asset transfer, distributions, dissolution events
- AAOIFI’s structural requirements and their market consequences
II.The analysis
- Credit: recourse, ranking and what dissolves at default
- Asset-backed versus asset-based — the distress cases that taught the market
- Pricing against conventional curves: spread, liquidity, demand
III.The market
- Issuance mechanics: mandate, structuring, bookbuild, listing
- Islamic funds and equity screening: the buy-side toolkit
- Sovereign programmes and the market’s next decade
Frequently asked
Which sukuk structures does the programme cover?
The programme opens the main sukuk structures — ijara, wakala, murabaha and hybrid — following each from asset selection through SPV mechanics to periodic distributions and dissolution events. AAOIFI’s structural requirements and their market consequences frame the anatomy, so participants can read and explain a structure rather than simply recognise its name on a term sheet.
Does the course explain asset-backed versus asset-based sukuk?
Yes — and it treats the distinction as the one that decides everything in distress. The programme runs the credit and Sharia analysis investors and rating agencies actually perform: recourse, ranking and what dissolves at default, the distress cases that taught the market the asset-backed versus asset-based lesson, and pricing against conventional curves for spread, liquidity and demand.
Who is the sukuk course designed for?
Treasury and capital markets teams, investment bankers and debt capital markets professionals, institutional investors and analysts, and regulators and central bank staff covering sukuk markets. It suits anyone who works with sukuk — as issuer, arranger, investor or supervisor — and wants to understand the ownership structures beneath instruments most participants have never opened.
Can the programme be delivered in-house, and in which languages?
Yes. Like every BIZENIUS programme, it is available in-house, tailored to your institution — useful where a treasury or DCM desk wants the casework built around its own funding plans. Programmes are delivered in English and French, sessions run on a rolling calendar with dates confirmed on request, and fees and quotations are shared on enquiry.
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In their words
Knowledge transfer, emphasised throughout
“We worked with BIZENIUS for our Fresh Graduates Programme — they are simply amazing. Knowledge transfer and practical learning were emphasised throughout.”
Kuwait Investment Authority
From the Mandate Record
Mandate № 04 · Africa
Capital frameworks built to run the bank, not to satisfy a filing
Most frameworks are written to satisfy the regulator. We build the kind that run the bank.
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The Capability Arc™
Fix it · Advisory
Advisory & Consultancy
A senior bench across risk, treasury and regulation.
Learning is one point on the Capability Arc. Many institutions pair this programme with the advisory engagement — and automate what the framework demands.
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