Egypt’s FRA Approves Draft Amendment to Rules Regulating Bonds, Securitisation Bonds and Sukuk

At a meeting held on the 30th of November 2021, Egypt’s Financial Regulatory Authority (FRA) approved a draft amendment to certain provisions of the rules that regulate bonds, securitisation bonds and Sukuk in the Capital Market Law No. 95 of 1992. Four new financing tools were also added into the capital market via this amendment, namely, social bonds, sustainable development bonds, environmental social and governance bonds, and gender equality and women’s empowerment bonds.

Why it Matters?

Mohamed Omran, Chairperson at FRA, noted that the draft amendment adopted the same provisions and principles applicable to the five types of securitisation bonds and Sukuk should they be used for financing or refinancing projects related to achieving s...