Egypt Continues to Prepare for the Issuance of its First Sovereign Sukuk 

Egypt is preparing for the issuance of its first sovereign Sukuk based solely on state-owned assets, according to the country’s Finance Minister Mohamed Maait in a statement published on the 31st of May 2022.

Why it Matters?

Recent global economic crises have raised the importance of alternative finance, increasing attempts to diversify funding tools and lowering the cost of development investments. Egypt's plans to issue its first sovereign Sukuk is expected to help broaden the country’s investor base through attracting Arab and global investors, particularly from the Middle East, North Africa, and Asia, who prefer to conduct their business in a Shariah-compliant manner, allowing Egypt to fund investment projects outlined in its state bu...