Skip to content
BIZENIUS.

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.

The 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

Read and explain the main sukuk structures, SPV mechanics included
Run the credit and Sharia analysis an investor or rating agency runs
Distinguish asset-backed from asset-based — and price the difference
Follow an issuance from mandate to listing with every party’s role clear

Who attends

Treasury and capital markets teams; investment bankers and DCM professionals; institutional investors and analysts; regulators and central bank staff covering sukuk markets.

Cohorts bring together board members, executives and the rising leaders behind them — kept deliberately small, so every seat is a peer’s.

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.

Share this programme

LinkedInWhatsAppFacebookEmail

Know the right person for this seat?Nominate a colleague →

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.

Open the dossier →

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.

Teams from these institutions train with BIZENIUS

  • Citi
  • Barclays
  • ExxonMobil
  • Total
  • Gazprom
  • Standard Bank
  • QNB
  • Crédit Agricole
  • Nedbank
  • Absa
  • Raiffeisen
  • Halliburton
  • Baker Hughes
  • ConocoPhillips
  • Ooredoo
  • National Bank of Kuwait
  • Kuwait Finance House
  • Bank Muscat
  • Bank Audi
  • SABB
  • Garanti BBVA
  • Ecobank
  • Arab Bank
  • National Bank of Egypt
  • ADIB
  • Access Bank
  • Afreximbank
  • Repsol
  • QNB ALAHLI
  • Stanbic Bank
  • Equity Group Holdings
  • KCB Bank
  • Lombard Odier
  • NOV
  • Weatherford
  • Subsea 7
  • Al Baraka
  • Banque Misr
  • Burgan Bank
  • Bank ABC

BIZENIUS

Speak to an expert

Tell us where you stand — an expert replies within one business day.

Phone *
Area of interest
+ Add a message or details (optional)

We only use your details to respond to your enquiry. See our Privacy Policy.