Your Trusted Shari'ah Compliant Capital Market Dealers
Yusra Sukuk Company Limited has been engaed by Ugandan government since April 2026 to be its Consultant/Lead Arranger for its inaugural sovereign Sukuk aimed to raise funds to construct 42 Kilometres of its 272 Kilometres Standard Gauge Rail (SGR) corridor oneto be constructed from Malaba town on its border with Kenya towards its capital city, Kampala. The Ministry of Finance, Planning and Economic Development (MoFPED) is raisng Euro 405 million for the project.
This new assignment follows Yusra Sukuk successfully leading the Revolutionary Government of Zanzibar (RGoZ) to raise US$ 152 million in tranche one of its inaugural Quasi-Sovereign Sukuk in 2025. This amount was out of US$ 446 million planned to be raised for several infrastructure projects development. This achievement is besides two corporate Sukuk issued under Yusra Sukuk as Lead Arranger., Premier Sukuk (2024) and Fay Sukuk (2026). Yusra Sukuk is the first ever Shari'ah compliant capital market dealer in Sub-Saharan Africa South of Ecquitor and a licensee of CMSA and DSE as Investment Adviser and Securities Dealer. It has been instrumental for the development of Tanzania capital marekts industry.
The sovereign Sukuk is a part of Euro 2.702 billion needed to construct the 272 Kilometres being financed in tripartite model with Export and Credit Agencies (ECAs) pledging 65% of the Euro 2.702 billion, Development Financial Institutions (DFIs) 20% and the government of the republic of Uganda footing in 15% which is the Euro 405.5 million being raised using this sovereign Sukuk. The SGR is a part of East African standard gauge rail network with Kenya and Tanzania already ahead.
In fact, we had to make the investor pitching very careful to avoid a huge oversubscription since invetsors' appetite on Sukuk in Tanzania has been increasing exponentially gauging from all Sukuk issued in the country since 2021 when Imaan Finance became the first corporatye to issue a Sukuk followed by KCB Sahl Banking Sukuk which became the first bank in Tanzania to issue a Sukuk. Yusra Sukuk Executive Chairman was the lead technical person in it. Premier Sukuk, became the first ever non-financial corporate Sukuk and the first ever educational institution Sukuk in Sub-Saharan Africa.
Once again Yusra Sukuk Company Limited was the Lead Arranger with Mayzuh Company Limited being the Shari'ah Advisor. The Sukuk proceeds are intended to complete a 5-storeys building at Kinondoni Morocco in Dar es Salaam ready for offtakers to rent it at the burstling business area in Dar es Salaam city in Tanzania. The Sukuk is a Hybrid of Ijarah/Istisna (Lease/Construction) starting with tangibility ratio above 50% to comply with AAOIFI SS. 59 to allow for Sukuk certificates tradability from day one thus enabling the Sukuk investors to sell their Sukuk at premium, par or discount without anyh problem.
The Sukuk is a 5-year Forward Ijarah (Forward Lease) for the construction of a new technology building materials plant at Chalinze district in Pwani region. The Multicurrency (TZS and US$) corporate Sukuk has a rental rate of 14.5% and 5.5% respectively and is open for individuals as well as institutional investors from anywhere in the world.
The Sukuk has been given a Shari'ah compliance Certifucate by its Shari'ah Advisors - Centre for Islamic Finance Compliance and Advice (CIFCA) and will be listed at Dar es Salaam Stock Exchange (DSE) and possibly across East and Central Africa Stock Exchanges to enable investors to trade their certificates at will.
The new technology building materials will be a game changer as they cut down building costs between 48%-58% depending on whetther the building is a high or low rise and it cuts labour costs by nearly 60% hence expected to revolutionize housing development projects in Tanzania and beyond.
Apart from being cost effective, the technology saves energy reducing the use of enery by 70% and is suitable for earthquake prone areas teh building materials are light and the elasticity is good enabling it to absorb earthquake shock.
The Sukuk was organized by President's Office-Finance and Planning and the Guest of Honour was Hon. Dr. Saada Mkuya Salim, the RGoZ Finance Minister nicknamed "Mama Sukuk" following her untiring effirts to make Zanzibar Sukuk issuance a reality and not a dream.
Hon. Chief Justice of Zanzibar, Khamis Ramadhan Abdalla, speaking at the opening remarks said "this training is very crucial to empower the Judges, Magistrates and Kadhis to understand Sukuk so that in case of any conflict, they be able to administer justice from informed position"
The Minister of Finance and Planning said "Sukuk is an alternative financial tool for the RGoZ to meet its financial needs especially on infrastructure and to avoid increasing the government debt since Sukuk is not a debt but an equity instrument.
The training was conducte dby Yusra Sukuk Executive Chairman, Sheikh Mohamed Issa, who is also a Certifed Sukuk Professional (CSP) assisted by Mr. Qaasim Mohamed who is also a CSP holder. The training which took place on Sunday the 10th August 2025 was attended by 50 participants.The Second Zanzibar Sukuk tranche is expected somwhere around October 2025 according to Dr. Saada
After a successful launching of Zanzibar Sukuk, it has been explained by Zanzibar Treasury Sukuk1 Limited Executive Director, Dr. Masoud Rashid, that subscribers to the Sukuk will now be able to subscribe using a Central Securities Depository & Registry (CSDR) App. The company is the Special Purrpose Vehicle (SPV) specifically created by Zanzibar government to be Sukuk Issuer/Trustee.
Ellaborating further on the subscripttion process, the Sukuk Lead Arranger's-Yusra Sukuk Company Limited, Sheikh Mohamed Issa, said the subscription process will not be complete until a subscriber fills in subsciption forms.
To Order Zanzibar Sukuk Subscription Forms, Fill in CONTACT US TO THE RIGHT OF THE SCREEN.
The subscriprion staps will be as follows; -
1. You must have a bank account (if not, you have to open one)
2. You must have a CDS account (if you don't have the Subscription App will automaically create one for use. Keep your CDS Account)
3. Download (or collect a form from a bank selling Zanzibar Sukuk)
4. Fill in the form providing all the information needed
5. Access your bank's or selling Agent App (currently PBZ Ikhlas)
6. Press on SUKUK Icon and follow the steps to subscribe
7. You will get a Depository Receipt. Keep it.
For more information, contact us at info@yusrasukuk.world or call us:+255 762 715 311/+255 785 715 859. E-mail: info@yusrasukuk.world or ceo@yusrasukuk.world
Events
Services
Sukuk Bonds Issuances
With our thorough market analysis, investment advisors and being the only Shari'ah-compliant capital markets dealers in Sub-Saharan Africa (according to Islamic Finance News of Kuala Lumpur, Malaysia) we provide professional services for Sukuk bond issuances to finance various entities (sovereigns, Quasi-Sovereigns, Government Related Entities, Municipalities and Private Corporates). We have the deep insights on Shari'ah-compliant products to guide your investment decisions securely. When it comes to delivering Sukuk bonds knowledge and services, you can wholly trust Yusra Sukuk Company limited: Sheikh Mohamed Issa Certified Sukuk professional Company Executive Chairman
Portfolio Management
With our portfolio management service for your investments in Shari'ah-compliant products ensures that your investments are well-balanced and optimized for maximum returns.
Investment Strategy Planning
We tailor investment strategies to align with your financial goals, ensuring sustainable growth and risk management of your business. We got economists, Risk Management professionals with year sof experience in Risks and Risk Management
Testimonials
Contact
- 23rd Floor, Rita Tower, New Postal Area, Dar es Salaam, Tanzania
Customers
Charts
Browser
Operation System
How Most Visitors Reach You?
Site Traffic
Articles
This is a generic article you can use for adding article content / subjects on your website.
Read More
This is a generic article you can use for adding article content / subjects on your website.
Read More
This is a generic article you can use for adding article content / subjects on your website.
Read More
This is a generic article you can use for adding article content / subjects on your website.
Read More
Events
Premier Sukuk, a private offer, the first of its kind in Sub-Saharan Africa and beyond, was launched today the 11th July, 2024 at Hyatt Regency Hotel, Dar es Salaam (formally The Kilimanjaro Hotel). The event was graced by the presence of CPA Nicodemus Mkama, the Capital Markets and Securities Authority (CMSA) Chief Executive Officer, Madame Mary Mniwasa (The Acting Dar es Salaam Stock Exchange (DSE) Chief Executive Officer, Yusra Sukuk Executive Chairman and Board of Directors and other dignitaries as well as Sukuk transaction parties and investors. The Sukuk bond categorized by CMSA as a Socially Responsible Investment (SRI) instrument garnered TZS 1.94 billion Tanzanian Shillings from the original intended TZS 1.2 billion prompting CMSA to issue an approval of a Green Shoe option. The Sukuk is the first of its kind because it was issued by a secondary school, a non-financial institution hence breaking the trend of financial institutions only issuing Sukuk in Tanzania. It is the first to be issued via a Special Purpose Vehicle (SPV) as the Sukuk Issuer/Trustee as well since all the past Sukuk issued in Tanzania had no SPV . It was also the maiden Sukuk issuance to Yusra Sukuk Company Limited since its licensing by CMSA in 2023, opening the way for more Sukuk issuance in which Yusra Sukuk Company Limited will feature as a Lead Arranger or Transaction manager.
This an event article, used for writing about and listing the events planned for the future on your website. You can edit all of this text from the Pages tab by clicking the edit button.
This an event article, used for writing about and listing the events planned for the future on your website. You can edit all of this text from the Pages tab by clicking the edit button.
This an event article, used for writing about and listing the events planned for the future on your website. You can edit all of this text from the Pages tab by clicking the edit button.
Schedule Booking
New Arrival
Main Categories
Gallery
F.A.Qs
What is Sukuk Bonds?
Like conventional bonds, they provide an income stream culminating with a refund of the principal amount invested in a Sukuk bond issuance at the maturity of the Sukuk bond.
However, they differ from conventional bonds in that they are mainly asset-backed or asset-based Shari'ah compliant capital markets products since they are based on Shari'ah principles.
These principles prohibit taking or giving of interest on loans or financing, excessive uncertainty (Gambling), ambiguity (Gharar) and dealing in impressible things or transactions according to these principles.
Sukuk bonds are recognized by The World Bank Group (WBG), IMF, UNDP and other multinational bodies as one of the tools for attaining Sustainable Development Goals (SDGs).
In Tanzania, the Ministry of Finance and all financial regulators recognise Sukuk bonds and there are legal and regulatory frameworks already in place to protect both the Issuers and investors dealing with Sukuk bonds.
Got questions that need answering?
What do you want your clients to know?
Want your clients to learn about your business?
Edit your About page from the Pages tab by clicking the edit button.
