Egypt’s Financial Regulatory Authority Anticipates Three Sukuk Offerings in Q4 2021: Sources 

Three requests for Sukuk offerings are anticipated to be submitted to Egypt’s Financial Regulatory Authority (FRA) after the Eid Al-Adha holidays, out of a total of five companies that are studying such offerings, according to official sources, as reported by local media. Procedures for the three offerings are expected to be completed during the fourth quarter (Q4) of 2021.

Why it Matters?

Although various capital market authorities in Egypt expected a momentum of Sukuk offerings in 2021, no offerings have been made as yet. According to officials from Sukuk companies, the total value of Sukuk offered during 2021 is expected to exceed EGP 20 billion. However, Egypt’s FRA has not yet had any Sukuk offerings, calling into question whether th...