{"id":323037,"date":"2021-08-24T10:58:53","date_gmt":"2021-08-24T10:58:53","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=323037"},"modified":"2021-08-24T10:58:53","modified_gmt":"2021-08-24T10:58:53","slug":"egypt-to-issue-fist-sovereign-sukuk-in-h2-fy21-22","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/08\/24\/egypt-to-issue-fist-sovereign-sukuk-in-h2-fy21-22\/","title":{"rendered":"Egypt to issue fist sovereign Sukuk in H2-FY21\/22"},"content":{"rendered":"<p>Egypt is set to issue its\u00a0first sovereign Sukuk in the second half (H2) of fiscal year (FY) 2021\/2022 in a move aimed at providing the required finance for the country&#8217;s investment projects.<\/p>\n<div id=\"Outstream\"><\/div>\n<p>The timing, size, and type of the issuance will be determined later, the Minister of Finance, Mohamed Maait, said in a statement on Tuesday.<\/p>\n<p>The executive regulations of the Sovereign\u00a0Sukuk Law will be issued within three months in collaboration with the Financial Regulatory Authority (FRA) and\u00a0Al-Azhar Al-Sharif to attract a new segment of local and foreign investors wishing to\u00a0invest in financial instruments compliant with\u00a0the Islamic Sharia principles.<\/p>\n<p>Taxes charged on treasury bills will also apply to returns on sovereign Sukuk, Maait noted.<\/p>\n<p>A new\u00a0state-run company will be established\u00a0to manage\u00a0the issuance of sovereign Sukuk, which will be based on the usufruct of state-owned assets for a renewable\u00a0maximum period of 30 years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt is set to issue its\u00a0first sovereign Sukuk in the second half (H2) of fiscal year (FY) 2021\/2022 in a move aimed at providing the required finance for the country&#8217;s investment projects.\u00a0\u00a0<\/p>\n","protected":false},"author":4,"featured_media":323038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[],"class_list":["post-323037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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