Tanzania, June 2 -- Kampala. Uganda's inaugural sovereign Sukuk has received a major boost after the Bank of Uganda classified its certificates as High-Quality Liquid Assets (HQLA).

According to the lead consultant for the Islamic bond, Sheikh Mohamed Issa, the move is expected to enhance its attractiveness to both institutional and individual investors.

The designation follows requests from prospective investors in Tanzania and Kenya during recent non-deal roadshows conducted by a delegation from Uganda's Ministry of Finance, Planning and Economic Development.

The delegation, led by Deputy Secretary to the Treasury Patrick Ocailap, met potential investors across the region to market the forthcoming Islamic bond.

Sheikh Issa said inve...