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Saturday, November 16, 2024

Home Islamic CIRA gets Egypt FRA’s approval for $38.14m sukuk issuance

CIRA gets Egypt FRA’s approval for $38.14m sukuk issuance

by News desk
January 1, 2021
in Islamic

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Cairo

The Egyptian Financial Regulatory Authority (FRA) gave the greenlight to EFG Hermes Sukuk Co to issue Ijara Sukuk for Cairo for Investment and Real Estate Development (CIRA). The Sharia-compliant Sukuk will be offered for eligible private financial institutions and investors at a nominal value of EGP 100 apiece, totaling EGP 600 million, CIRA said in a bourse disclosure on Tuesday. The issuance of the Sukuk, carrying a maturity of 82 months, is managed by EFG Hermes as a financial advisor.—Zawya News