Egypt’s Financial Regulatory Authority Announces Two Potential Sukuk Offerings in Early 2021
December 01, 2020
Email Sayed Abdel-Fadil, Head of the Central Department for Finance at Egypt’s Financial Regulatory Authority (FRA) has revealed two potential Sukuk offerings to take place in the first quarter of 2021 (1Q 2021), according to local media reports.
According to Abdel-Fadil, an unlisted agricultural reclamation company is preparing documents to offer EGP 250 million worth of Sukuk in 2021 to fund agricultural projects, and is planning to submit a formal request to the FRA in January 2021. Abdel-Fadil noted that as the unnamed company is not listed on the Egyptian Exchange (EGX), this reflects the widespread awareness of Sukuk financing, which is not limited to large, listed companies.
