Egypt to Enter Sovereign Sukuk Market in 2022: Finance Minister

Mohamed Maait, Finance Minister of Egypt, has said that the country would join the sovereign Sukuk market in 2022, noting that investor demand for the first offering of green international bonds indicates confidence in the country’s economy.

Why it Matters?

The Egyptian economy has been ranked second in the world in the Economist Index for the return to normalcy prior to COVID-19, demonstrating the government's success in implementing an intensive economic reform programme that allowed the economy to recover from COVID-19’s adverse effects. The Egyptian economy has improved its ability to face obstacles and meet people's demands, and the Egyptian government is eager to diversify funding sources.

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