Securitised bonds issuance in Egypt records EGP24.1 bln in 2020 increasing 9% – FRA head
The value of securitisation bonds issuance in Egypt has recorded at 24.1 billion Egyptian pounds ($1.5 billion) during 2020, compared to 22.1 billion pounds in 2019, Mohamed Omran, Chairperson of the Egyptian Financial Regulatory Authority (FRA).
Omran made his remarks at an online conference held by EFG Hermes. He added that, despite the economic implications of the novel coronavirus (COVID-19) pandemic, 2020 witnessed a significant 9 percent increase in the value of securitisation bond issuances.
He added that the value of securitisation bond issuances is expected to grow by 15 percent during 2021.
Omran added that the volume of liquidity during the coming period will be better than it was in previous situations, which will enhance the Egyptian stock exchange’s (EGX) positive role in providing basic financing to companies.
He added that the discount on commissions from 51/1000 to 30/1000 had a positive impact on the EGX.