مجلة التمويل والاستثمار والتنمية المستدامة
Volume 11, Numéro 1, Pages 341-361
2026-06-08
The Legal And Regulatory Framework Of Sovereign Islamic Sukuk In Algeria: A Critical Review Of Contemporary Legislation And Prospects For Its Development
Authors : Laifa Abdelhak . Dib Salsabil .
Abstract
This paper examines the evolving legal and institutional framework for sovereign Islamic Sukuk in Algeria, focusing on Executive Decree No. 85 (June 1, 2025) and Executive Decree No. 243 (September 18, 2025). It finds that the Algerian framework remains at a foundational stage and is mainly fiscally oriented, lacking key mechanisms such as a Special Purpose Vehicle (SPV) and a permanent Sharia supervisory board. Comparative analysis with Jordan, Egypt, Tunisia, and Dubai shows more advanced legal and operational systems. The study recommends strengthening regulatory structures, improving Sharia governance, and developing secondary markets to enhance transparency and investor confidence.
Keywords
sovereign Sukuk ; Islamic finance in Algeria ; legal framework
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