مجلة معهد العلوم الإقتصادية

Islamic Sukuk As A Tool For Economic Development And Capital Market Development In Algeria

Auteurs : Boulahouat Mahdia . Beztouh Djaber .

Résumé

Algeria's inaugural sovereign Ijara Usufruct Sukuk, issued in January 2026, marks a major step toward diversifying public financing and developing the domestic Islamic capital market. This paper examines the potential of sovereign Sukuk to support fiscal diversification, infrastructure financing, financial inclusion, and capital market development through a qualitative comparative analysis of Algeria, Malaysia, and Saudi Arabia. It proposes an institutional framework and key performance indicators to assess future outcomes. The findings indicate that sovereign Sukuk can strengthen long-term financing and market development, provided they are supported by a robust legal framework, transparent governance, efficient secondary markets, and sustained investor confidence.

Mots clés

Sovereign Sukuk ; Islamic Finance ; Algeria ; Financial inclusion and diversification ; Algiers Stock Exchange