Egyptian Sukuk Market Anticipated to Exceed EGP 20 Billion in 2021: Experts

Egypt’s Sukuk market is anticipated to exceed EGP 20 billion in 2021 according to stakeholders, who were sharing their views at a recent roundtable discussing the competitive advantages of Sukuk over other financing instruments in Egypt, as reported in local media.

Chaired by Sayed Abdel-Fadil, Head of the Capital Market Operations Sector at the Egyptian Financial Regulatory Authority (FRA), the roundtable reviewed the developments of Egypt’s Sukuk market, which included three issuances worth EGP 5.1 billion in 2020. Abdel-Fadil noted that Moody’s Investors Services anticipated global Sukuk issuances to rise to USD 170 billion in 2021 from around USD 157.8 billion in 2020.

According to Ayman El-Sawy, Financial Sector Head at Sarwa Capital, the countr...