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CIRA mulls issuance of Ijara Sukuk

CIRA mulls issuance of Ijara Sukuk
CIRA reported net profits of EGP 330.4 million in nine months

Cairo – Mubasher: Cairo for Investment and Real Estate Development (CIRA) is currently considering to issue Ijara Sukuk compliant with the Islamic Sharia.

In response to news reports about the company seeking to issue EGP 600 million Sukuk, the company said in a bourse disclosure on Tuesday that it is looking for means to finance its projects.

Any other details will be disclosed after taking a final decision regarding this matter in the next board meeting, the company added.

During the nine-month period ended on 31 May, CIRA reported net profits of EGP 330.4 million, compared to EGP 231.56 million in the year-ago period.