December 3, 2019 / 10:47 AM / 10 days ago

Egypt to issue first corporate sukuk within weeks - official

CAIRO, Dec 3 (Reuters) - Egypt will issue its first corporate sukuk, or Islamic bonds, within weeks, a Financial Regulatory Authority (FRA) official said on Tuesday.

CIAF Leasing, an aircraft leasing company, will issue sukuk worth $50 million, the first in Egypt to do so, Sayed Abdel Fadil, an FRA departmental head, told Reuters.

A second company, a contractor, will also issue sukuk worth more than one billion Egyptian pounds ($62.27 million) within weeks, he added, without giving the name of the company.

($1 = 16.0600 Egyptian pounds)

Reporting by Ehab Farouk, writing by Mahmoud Mourad, Editing by Patrick Werr, William Maclean

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