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
