Turkrating and Capital Intelligence will organize the "Sukuk Market Overview," a detailed workshop on Islamic fixed income or sukuks, on April 26-27 in Istanbul.
The Sukuk Market Overview workshop will be heldin collaboration between the leading Turkish rating agency Turkrating and Capital Intelligence Ratings (CI Ratings), an independent international credit rating agency regulated by the European Securities Markets Authority (ESMA).
At the workshop, financial and real sector representatives will be provided with advanced information about Islamic finance instruments and applications. The workshop to be held at the Hilton Bomonti will focus on mechanisms and problems and opportunities in practice with regards to arranging, pricing and issuing of sukuks.
The workshop will present a comprehensive analysis of sukuk markets in terms of both demand and supply, and will also conduct studies on a number of examples of different sukuk varieties and technical structuring of project financing practices.
Fixed-income Islamic securities markets will be reviewed, and the economic and financial foundations on which sukuk issuances are based, the areas where sukuks are used as investment instruments and the supply and demand balance dynamics will be discussed on the first day of the workshop.
The two-day workshop will also focus on sukuk rating methodologies and processes, as well as different evaluation criteria from investors' perspective. On the second day, a study will be conducted on examples of different sukuk practices regarding how each stage of a sukuk issuance is structured.
In addition, different examples of the use of sukuk bonds for project financing will be studied practically by dividing them into groups in the context of pricing, cost and documentation processes. Training in the workshop will be given by Dr. Ghassan Chammas and Nicolas Photiades, two Business Development Unit directors of Capital Intelligence Ratings.
Turkrating Assistant General Manager Sanem Kabakılıç said sukuk, known as "interest-free bond," has gradually developed around the world in recent years and stressed that Turkey needs human resources trained in this field.
Kabakılıç noted that with the workshop they organized, they intend to raise awareness about the issuance of sukuk in the finance and real sector.