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Egypt to issue 1st corporate sukuk in weeks – FRA official

Egypt to issue 1st corporate sukuk in weeks – FRA official
CIAF Leasing will be the issuer of $50 million worth of sukuk
Abu Dhabi Islamic Bank
ADIB
5.57% 13.08 0.69

Cairo – Mubasher: Egypt will issue its first corporate sukuk in the coming weeks, head of the central department for corporate finance at the Financial Regulatory Authority (FRA), Sayed Abdel Fadil, told Reuters on Tuesday.

The aircraft leasing company CIAF Leasing will be the issuer of sukuk worth $50 million and Abu Dhabi Islamic Bank (ADIB) will be the lead manager of the transaction, the senior official revealed. 

In addition, a contracting company will also issue sukuk valued at above EGP 1 billion ($62 million), Abdel Fadil added.