Moscow Exchange is negotiating the issuance of an Islamic equivalent of bonds

Moscow Exchange is negotiating with some Russian regions to issue the Islamic equivalent of bonds - sukuk - to finance the construction of toll roads and the launch of eco-transportation, said Sergey Shvetsov, chairman of the exchange's supervisory board. Wrapping sukuk into standard bonds is difficult enough, but wrapping them in digital rights is easy enough, he noted. However, financing the entities' debt through the CFA may not be allowed by law.