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Egypt will issue its first corporate sukuk – or Islamic bonds – within weeks, a Financial Regulatory Authority (FRA) official told Reuters 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, further said.
A second company, a contractor, will also issue sukuk worth more than one billion Egyptian pounds ($62 million) within weeks, Abdel Fadil said, without giving the name of the company.