Egypt’s c.bank plans to issue EGP 5 billion sukuk on 9 March

Egypt’s central bank will issue a 5 billion Egyptian pound sukuk on Monday, 9 March, according to data released Thursday.

The three-year Shariah-compliant instruments, which mature on 10 March 2029, will pay returns semiannually. Sukuk provide governments with an alternative to conventional bonds, offering fixed, predictable returns while helping diversify funding sources and reduce borrowing costs.

The issuance is part of Cairo’s strategy to expand Islamic finance and attract both domestic and international investors.

Attribution: Amwal Al Ghad English