Egypt’s Sukuk market set to raise EGP 5 billion in 2020
March 03, 2020 | Updated at March 04, 2020
Email Egyptian conglomerate Talaat Moustafa Group (TMG) is preparing to issue its first Sukuk in the country during March 2020, valued at EGP 2 billion.
CIAF Leasing, an aircraft leasing company in Egypt, also plans to issue a USD 50 million Sukuk. However, the company has rescheduled its plans to mid-2020 citing uncertainty caused by the coronavirus.
These two transactions will see Sukuk issuances at approximately EGP 2.8 billion by mid-2020. In addition, the Financial Supervisory Authority, Egypt has disclosed that two other companies have also requested to issue Sukuk, one being a firm in the services sector.
