Egypt is Set to Issue its First Sukuk Issuance for the Second Half of 2021/2022

Mohamed Maait, the Minister of Finance of Egypt states that the country is prepared to issue the first Islamic Sukuk issuance for the second half of the fiscal year of 2021/2022 (2H FY2022). The value of Sukuk that is expected to be issued amounts to USD 2 billion.

Why it Matters?

The issuance of Sukuk will provide the required funds for investment projects, which are a part of the economic and social development plan under the budget of the state for the fiscal year of 2021/2022. This will also assist in reaching the development goals by keeping in line with the state’s attempts to increase spending and improve living standards of citizens. The Sukuk issued within the domestic market will be listed on the Egyptian stock market whilst those issue...