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CIAF Leasing, Talaat Moustafa to issue sukuk in 3 months

CIAF Leasing, Talaat Moustafa to issue sukuk in 3 months
CIAF Leasing will be the issuer of sukuk worth $50 million
TMG Holding
TMGH
0.81% 6.34 0.05

By: Fahd Omran

Cairo – Mubasher: The Egyptian aircraft leasing company CIAF Leasing will issue the first corporate sukuk in February, head of the central department for corporate finance at the Financial Regulatory Authority (FRA), Sayed Abdel Fadil, said.

The second corporate sukuk issuance will be made by Talaat Moustafa Group Holding (TMG Holding) most probably in March or April, Abdel Fadil added on the sidelines of a conference on Tuesday.

In December 2019, Abdel Fadil revealed that CIAF Leasing will be the issuer of sukuk worth $50 million within weeks.

In addition, TMG Holding’s CEO and managing director Hisham Talaat Mostafa said earlier that the real estate developer plans to issue sukuk by April.