Sukuk which are issued in a local currency, either by the government sector (government sukuk) or private sector (corporate sukuk). An example is an issue of riyal-denominated sukuk in the Saudi market. These sukuk are used to mobilize funds in local currency and thus mainly target local investors. The sukuk issued by national governments in the country’s own currency are known as government sukuk, as opposed to sovereign sukuk which are usually issued in foreign currencies.
May 1, 2023