Egypt steams on with diversification as sukuk debut approaches

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By Mariam Meskin
10 Nov 2020

Egypt, which has already entered international debt markets twice this year, is on its way to debuting in the sukuk market following cabinet approval for an Islamic financing bill. The sovereign raised its debut syndicated loan in September that included an Islamic tranche, which bankers said was a fitting prelude to a sukuk.

There is no specific timeline in question, according to market sources, though the passing of a sukuk bill in Egypt’s parliament brings a debut deal closer.

The Egyptian cabinet approved a sovereign sukuk bill last week. Once passed by the House of Representatives and ratified by the president, it ...

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