Prime Holding Awaits Sukuk Activation, Seeks EGP 400 Mln Finance

Prime Holdings and Investments (PRMH.CA) said it awaits the regulators’ approvals so as to activate mechanism to issue the Islamic sukuks in the Egyptian market as it would obtain a finance worth EGP 400 million.

Mohamed Maher, Deputy Chairman, noted that Prime Holdings aims to obtain the EGP 400 million finance through the issuance of Islamic sukuks. Hence, Prime seeks the regulators’ approvals to activate the sukuk issuance mechanism.

Maher expected that the activation of sukuk issuance mechanism would be within the coming period after the regulators complete their studies on the mechanism.

Recently, there are growing demand for the Islamic investment instruments after the January 25th Revolution , Maher added. Accordingly, it is pivotal to provide further mechanisms so as to boost the Islamic investment instruments in the market.