Latest in Tag: Sukuk Highlight
Latest in Tag: Sukuk
The offering will provide the necessary funding for investment projects listed in the economic and social development plan in the state’s general budget, to achieve development goals in line with the state’s efforts to enhance expenditures to improve citizens’ lives. He pointed out that the timing, size and type of offering will be determined later.
The issue is an Islamic Sharia compliant seven-year Mudaraba Sukuk, and received a high credit rating of A- by the Middle East Ratings and Investors Service (MERIS). The proceeds will be used to further expand Contact Credit and its affiliate companies.
Maait stressed that the Egyptian government attaches great importance to encouraging the private sector to expand its participation in the comprehensive and sustainable development process.
Egypt saw three sukuk issuances in 2020, with total value of EGP 5.1bn
More Sukuk issuances needed to clarify amendments that executive regulations need:AlieldeanWeshahi& Partners
Event comes after three successful sukuk issuances, with three more to follow soon
Roundtable will discuss the components of a successful sukuk issuance, and the factors that determine the appropriate type or form of the instrument
Volume of Egypt’s sukuk issuances during 2021 expected to reach over EGP 10bn
Sukuk issuances in 2021 are set to exceed EGP 10bn, says FRA official
The proceeds will be used for further expansion of Contact Credit and its affiliate companies.
The sources said that the company is currently completing the offering documents with the Financial Regulatory Authority (FRA). CIRA aims to complete the offering before the end of the year, to finance its expansion in the field of education.
FRA’s Sharia Supervisory Committee approves sukuk’s compliance with Islamic Sharia last Thursday
Issuance to comprise 25m sukuk at nominal price of EGP 100 per unit through private placement
Sarwa Capital had signed a cooperation agreement with Banque Misr and the Misr Capital Company to guarantee, promote, and cover the financing instruments for the benefit of Contact Finance. The move came as part of the general strategy to diversify sources of financing.
Amer Group has decided to hold off announcing the value due to the prevailing pessimistic outlook of a second wave of the novel coronavirus (COVID-19). This is expected to result in a decline in the interest rate, which raises some concerns.
several companies want to issue sukuk in 2020, including real estate investment, services, agricultural reclamation
FRA earlier approves first Sukuk offering worth EGP 2bn
The issuance is reportedly to have a positive impact in three ways, given the current crisis facing Egypt’s economy due to the ongoing coronavirus (Covid-19) pandemic.
TMG is targeting sales in the fiscal year (FY) 2019/20 similar to those in FY19, of EGP 20.4bn.
CIAF delays its Sukuk programme to mid-year
CIAF is currently preparing to float $50m sukuk, and promotions are underway to launch them, which is the first sukuk offering witnessed in the Egyptian market, after the approval of legislative controls for issuing sukuk in Egypt.
The company arranged with the Financial Regulatory Authority to navigate the process, ADIB Securities for financial consultancy, and Al Tamimi & Company as its legal advisor. The issuance is expected to reach $50m.
MERIS Ratings hired to rate Sukuk, promotional campaigns to launch soon, says Mohamed
This year summit titled, ‘Funding instruments, opportunities to accelerate growth, stimulate capital markets’
Sukuk accounts for 24% of total debt floated in Gulf during 2017
Sukuk’s compliance with Islamic law may be catalyst for it to be seen as reliable financing tool, says El Sawy
Conference aims to encourage companies to take advantage of financing alternatives to growth, expand, provide government with financial resources to fund its major projects
As sanctions fears kick in, Tehran has unveiled plans to roll out new Islamic financial products to boost funding for domestic firms. But Iran is split on whether international or domestic financing is the way to go.Iran’s capital market regulator, the Securities and Exchange Organization (SEO), said Tuesday it has started work on a new …
We aim to raise economic growth to 10% by 2030: Ismail
The bonds are the second to be listed by Majid Al Futtaim on the exchange, following a $400m listing in 2013