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Egypt to establish sovereign Sukuk management firm

Egypt to establish sovereign Sukuk management firm
The value of the global sovereign Sukuk market amounted to $2.7 trillion

Cairo – Mubasher: Egypt is set to establish a state-run company to manage the issuance of sovereign Sukuk, following the approval of the law by the Parliament, the Minister of Finance, Mohamed Maait, said.

The maximum usufruct period of the Sukuk assets is a renewable period of 30 years, Maait added in a statement on Monday.

Once the law is issued, Egypt will be able to enter the sovereign Sukuk market which amounted to a value of $2.7 trillion globally, he noted.