Up-coming Sukuk Issuance by Egypt’s TMG is Anticipated to Assist Market Revival

The upcoming issuance of the Talaat Moustafa Group’s (TMG) EGP 2 billion Sukuk is expected to have many positive impacts on Egypt’s economy amidst the prevailing COVID-19 pandemic, according to local media.

It was reported that the Sukuk issuance can have positive impacts in multiple ways, the first being TMG’s Sukuk offering having the potential to be the starting point for the local Sukuk market, with Egypt’s financial instruments market lacking such modern financial instruments. 

Local media also reported that the Sukuk issuance is seen as a short-term opportunity to bolster domestic and foreign consumer confidence in Egypt’s real estate market, which...