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Uganda’s New Sukuk Rules Explained | Uganda News
Uganda just rolled out new sukuk rules—Islamic bonds tied to real assets—to ensure investors aren’t just buying debt but owning tangible projects. At least 53% of funds must back physical assets like land or buildings, with that ratio staying above 33% for life. Each sukuk links to a specific project, managed by a local Special Purpose Vehicle to build expertise and enforce compliance. Instead of one national Shari’ah board, issuers get their own advisory panels—a temporary fix due to lack of local scholars, though critics warn it could cause conflicting rulings and hurt investor trust…
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