Egypt’s TMG to Launch EGP 2 Billion Sukuk Ijarah Next Week

Egypt’s local media reported that Talaat Moustafa Group (TMG) aims to launch its first Sukuk programme worth EGP 2 billion by the end of next week, on the Egyptian market.

The Sukuk program which is currently under review by the Financial Regulatory Authority (FRA) is expected to receive the FRA’s approval within a short period to proceed with the launch.

TMG’s Sukuk offering will be in the form of Sukuk Ijarah with a fixed return that will guarantee both the project’s success and profits. This is expected to be attractive and encouraging to potential investors.

TMG is one of the largest conglomerates in Egypt, operating...