ICMA Education & Training and the GEFI have announced a strategic partnership to launch a new course on Islamic debt instruments (Sukuk).
This collaboration brings together ICMA Education & Training’s nearly five decades of experience delivering executive education for finance professionals across the international capital markets with GEFI’s industry leadership in this space, especially their work on the Islamic Sustainable Finance Initiative and their thought leadership activity, which aims to accelerate Islamic sustainable finance flows.
With the global Sukuk market having surpassed US$1 trillion in outstanding Sukuk in 2025, demand for specialist knowledge and expertise in Islamic debt capital markets continues to grow. Developed in partnership with GEFI, the new programme will equip financial market professionals with a practical understanding of Sukuk, covering the fundamental principles, market structures and evolving opportunities within this increasingly important segment of the international capital markets, including developments in sustainable Sukuk.
The Introduction to Sukuk course will explore the core principles of Islamic finance, Shariah governance, Sukuk structures and documentation, and the legal and regulatory frameworks governing the market. Participants will also gain an understanding of Sukuk issuance, secondary market dynamics and emerging developments, including sustainable Sukuk, digital Sukuk and tokenisation.
Delivered through ICMA’s online self-study platform, the course is now open for enrolment, with the first intake starting on 1 December 2026, with participants receiving three months’ access to learning materials and resources. It is aimed at professionals entering the fixed income market and those with limited experience who wish to develop a foundational understanding of Islamic financial instruments.
Commenting on the partnership, Bryan Pascoe, CEO, ICMA, said: “The partnership between ICMA Education & Training and GEFI underscores ICMA’s commitment to developing the skills and knowledge of market participants across all facets of the global capital markets. As Islamic finance continues to expand in scale and sophistication, this new Sukuk programme provides timely, practical learning that supports market integrity, sustainable growth, and broader participation in the international debt capital markets.”
Omar Shaikh, Managing Director of GEFI, said: “With the global Sukuk market experiencing sustained growth, establishing accessible, professional-standard education is critical. This partnership brings together ICMA’s international market authority with GEFI and UKIFC’s longstanding commitment to capacity building in Islamic finance. By introducing this executive education programme, we are bridging conventional finance and Islamic capital markets—equipping practitioners with the foundational awareness needed to navigate the expanding Sukuk landscape effectively.”
For further information about the Introduction to Sukuk course, including the full syllabus, course fees and registration details.
ICMA Education & Training
ICMA Education & Training sets the benchmark for capital markets training. Our courses serve front, middle and back-office staff across issuers, investors, underwriters, regulators, and infrastructure providers.
We align our programmes with ICMA’s core areas in primary and secondary markets, repo & collateral, sustainable finance, FinTech and Digitalisation, and more. Every course draws on ICMA’s foundational documents, including:
- ICMA Primary Market Handbook
- ICMA Secondary Market Rules & Recommendations
- Green & Social Bond Principles
- Global Master Repurchase Agreement (GMRA)
ICMA Education & Training is an approved training provider by the Financial Conduct Authority (FCA) in the UK and Securities & Futures Commission of Hong Kong and our courses are accredited by CPD® Certification Service and aligned with European Qualifications Framework (EQF).