{"id":628259,"date":"2018-06-28T03:53:21","date_gmt":"2018-06-28T03:53:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/egypt-could-issue-islamic-bonds-next-fiscal-year\/"},"modified":"2018-06-28T03:53:21","modified_gmt":"2018-06-28T03:53:21","slug":"egypt-could-issue-islamic-bonds-next-fiscal-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/egypt-could-issue-islamic-bonds-next-fiscal-year\/","title":{"rendered":"Egypt could issue Islamic bonds next fiscal year"},"content":{"rendered":"

Egypt may tap the global sukuk market in FY2018-19<\/strong>, Finance Minister Mohamed Maait tells Bloomberg in an interview.<\/a> The plan to issue Islamic Sharia-compliant bonds in USD or EUR \u201cwould mark a revival of a plan shelved since 2013 when the government under then-Islamist President Mohamed Morsi issued the law to pave the way for the country\u2019s first Islamic bond.\u201d The legislative framework for the issuance of sovereign sukuks is still under study, according to Maait, who said he expects an offering to generate a lot of interest. Background: <\/strong>The idea of issuing sovereign sukuk was first revived back in 2016<\/a>, at which time Maait said the government would begin drafting a mechanism for their launch during FY2016-17.<\/p>\n

Other highlights: <\/strong>Maait repeated what he told us earlier this week about the possibility of additional stake sales in state-owned companies in July and August (note we\u2019re talking sales of stakes in already-listed companies here, not yet new IPOs). The minister also telegraphed that Egypt will continue nudging its deficit funding mix toward \u201clong term borrowing rather than costly short-term debt.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt may tap the global sukuk market in FY2018-19, Finance Minister Mohamed Maait tells Bloomberg in an interview. The plan to issue Islamic Sharia-compliant bonds in USD or EUR \u201cwould mark a revival of a plan shelved since 2013 when the government under then-Islamist President Mohamed Morsi issued the law to pave the way for […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-628259","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b08f7507-ae9b-4e56-b0e6-e685c54eafa3","order":"0","is_powered_by":true,"section_story_id":"810a0e85-c67f-47df-9b68-1f57684d1bfb","story_type":"1","photo_url":"","photo_position":"above","related_issue":[628252],"teaser":"","voice_url":""},"yoast_head":"\nEgypt could issue Islamic bonds next fiscal year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/egypt-could-issue-islamic-bonds-next-fiscal-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt could issue Islamic bonds next fiscal year\" \/>\n<meta property=\"og:description\" content=\"Egypt may tap the global sukuk market in FY2018-19, Finance Minister Mohamed Maait tells Bloomberg in an interview. The plan to issue Islamic Sharia-compliant bonds in USD or EUR \u201cwould mark a revival of a plan shelved since 2013 when the government under then-Islamist President Mohamed Morsi issued the law to pave the way for […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/egypt-could-issue-islamic-bonds-next-fiscal-year\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-28T03:53:21+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/egypt-could-issue-islamic-bonds-next-fiscal-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/egypt-could-issue-islamic-bonds-next-fiscal-year\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt could issue Islamic bonds next fiscal year\",\"datePublished\":\"2018-06-28T03:53:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/egypt-could-issue-islamic-bonds-next-fiscal-year\/\"},\"wordCount\":189,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/egypt-could-issue-islamic-bonds-next-fiscal-year\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/28\/egypt-could-issue-islamic-bonds-next-fiscal-year\/\",\"name\":\"Egypt could issue Islamic bonds next fiscal year - 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The ministry provided no further\u2026","rel":"","context":"In "SPEED ROUND: ECONOMY"","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/511.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555938,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/04\/egypts-maiden-sovereign-sukuk-could-be-in-the-usd-500-mn-range\/","url_meta":{"origin":628259,"position":1},"title":"Egypt\u2019s maiden sovereign sukuk could be in the USD 500 mn range","author":"enterpriseam admin","date":"4 October 2021","format":false,"excerpt":"Egypt\u2019s maiden sovereign sukuk offering could be in the range of USD 500 mn, Finance Minister Mohamed Maait told Al Mal. The paper quotes Maait as suggesting that the issuance would not be large and would be \u201csimilar in size\u201d to Egypt\u2019s first sovereign green bond issuance of USD 500\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/42.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":623009,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/18\/first-sukuk-issuance-coming-next-fy-maait-confirms\/","url_meta":{"origin":628259,"position":2},"title":"First sukuk issuance coming next FY, Maait confirms","author":"enterpriseam admin","date":"18 October 2018","format":false,"excerpt":"** #3 First sovereign sukuk issuance coming next fiscal year, Maait confirms: Egypt\u2019s first sovereign issue of Sharia-compliant sukuks in FY2019-2020, Finance Minister Mohamed Maait confirmed to Reuters. The minister did not disclose the expected size of the issuance. A senior government official had told us earlier this week that\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562869,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/usd-2-bn-sovereign-sukuk-sale-coming-soon\/","url_meta":{"origin":628259,"position":3},"title":"USD 2 bn sovereign sukuk sale coming soon","author":"enterpriseam admin","date":"9 June 2021","format":false,"excerpt":"The Finance Ministry wants to go forward with a USD 2 bn sukuk issuance at the beginning of the next fiscal year in July, marking the first time ever that Egypt has issued sharia-compliant sovereign debt, Finance Minister Mohamed Maait told Al Arabiya in an interview yesterday.The caveat: Nothing is\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/130.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595725,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/05\/egypt-to-tap-arab-banks-for-planned-usd-1-bn-sovereign-sukuk-issuance\/","url_meta":{"origin":628259,"position":4},"title":"Egypt to tap Arab banks for planned USD 1 bn sovereign sukuk issuance","author":"enterpriseam admin","date":"5 August 2019","format":false,"excerpt":"EXCLUSIVE- Egypt to tap Arab banks for planned USD 1 bn sukuk issuance: The government will not approach international banks to manage a planned USD 1 bn sovereign sukuk issuance later this fiscal year, preferring instead to only work with Arab banks, government sources told Enterprise. \u201cWe've already begun talks\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591555,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/10\/egypt-plans-three-bond-issuances-before-the-end-of-the-fiscal-year-maait\/","url_meta":{"origin":628259,"position":5},"title":"Egypt plans three bond issuances before the end of the fiscal year -Maait","author":"enterpriseam admin","date":"10 December 2019","format":false,"excerpt":"The Finance Ministry is considering tapping bond markets three more times before the end of the current fiscal year, Finance Minister Mohamed Maait said yesterday, according to the local press. The offerings could be made up of sukuk, green bonds and variable-rate bonds, he said, without disclosing a target figure.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/738.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=628259"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628259\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/628252"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=628259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=628259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=628259"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=628259"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=628259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}