Sukuk activation to be Restudied in Egypt – Official

Egypt is to reconsider the Islamic bonds (Sukuk) file within the upcoming phase, said the market regulator chairman Sherif Samy on Tuesday.

According to the top official, the Egyptian Financial Supervisory Authority will discussing with the central bank the future of the Sukuk file in the local market.

In a keynote speech at the Egyptian Exchange’s IPO Summit that kicked off today, Samy stated that the Sukuk project is of great importance but needed to be technically revised.

Furthermore, Samy stressed the efforts exerted by EFSA and the Egyptian Exchange to to facilitate the financing channels for the different projects and companies that seek growth whether they are from the private sector or the governmental projects via expanding their ownership base through stock market.

EGX is organizing today its first Summit for the initial public offering. This summit aims at gathering all the decision-makers in the world of business and finance locally and regionally to enhance the growth opportunities for companies by raising capital through the initial public offerings (IPOs).