Sarwa Capital and Amer Group to Issue Sukuk Before End of 2020

Egypt-based companies Sarwa Capital and Amer Group will be issuing Sukuk before the end of 2020, according to sources, as reported by local media.

Sarwa Capital’s Sukuk offering will be valued at EGP 2.5 billion, and is likely to be implemented by November 2020, while Amer Group has not yet determined the final value of its offering due to the ongoing outlook of a second wave of the COVID-19 pandemic, local media reported. This is expected to result in fall in interest rates, which raises concerns. However, Amer Group’s offering is scheduled to take place in December 2020.

According to the sources, the two companies are in the advanced stages of the preparation of the of...