CAIRO - 24 January 2022: Egypt will issue its first sovereign sukuk offering before the end of next June, according to Deputy Minister of Finance for Financial Policies, Ahmed Kojak. Kojak said in a TV interview that the ministry has made great strides in completing the procedures for offering the sukuk, which it is seeking to complete during the current period. Earlier, the Egyptian Cabinet approved the start of the Ministry of Finance procedures for issuing sovereign sukuk in international markets. In June 2021, the Egyptian House of Representatives approved a draft law submitted by the government to issue the Sovereign Sukuk Law. In order to achieve the aforementioned goals, the government saw the importance and necessity of creating a new type of government securities called “sovereign sukuk”; this is in accordance with the presented draft law.

Source: Egypt Today January 24, 2022 11:46 UTC