{"id":664394,"date":"2025-04-29T00:00:00","date_gmt":"2025-04-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/29\/aman-for-microfinance-wraps-up-egp-3-bn-in-sukuk-issuance\/"},"modified":"2025-04-29T00:00:00","modified_gmt":"2025-04-29T00:00:00","slug":"aman-for-microfinance-wraps-up-egp-3-bn-in-sukuk-issuance","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/29\/aman-for-microfinance-wraps-up-egp-3-bn-in-sukuk-issuance\/","title":{"rendered":"Aman for Microfinance wraps up EGP 3 bn in sukuk issuance"},"content":{"rendered":"

Bokra<\/strong> completed an EGP 3 bn sharia-compliant mudarabah sukuk issuance<\/strong> for Raya Holding\u2019s Aman For Microfinance<\/strong>, the local fintech said in a statement (pdf)<\/a>.<\/p>\n

The details:<\/strong> The sukuk has a tenor of 84 months starting from the closing date, with proceeds earmarked to finance Aman Microfinance\u2019s sharia-compliant lending portfolio. The issuance carries a +BBB rating from Middle East Rating and Investors Service (Meris).<\/p>\n

The buyers: <\/strong>Several major financial institutions took part in the transaction, including Suez Canal Bank, Industrial Development Bank, Arab African International Bank, Al Baraka Bank, and Al Ahly Pharos as underwriters.<\/p>\n

We may be in line for some sukuk news from Bokra soon<\/strong>, with the founder and CEO Ayman Elsawy saying in February<\/a> that the startup is planning to issue EGP 20 bn in sukuk across five offerings this year.<\/p>\n

What they said:<\/strong> \u201cThis issuance marks a key milestone in strengthening our Islamic finance offering and expanding our ability to support entrepreneurs and SMEs, contributing meaningfully to sustainable economic development,\u201d Aman for Financial Services CEO Hazem Moghazi said.<\/p>\n

A<\/strong>DVISORS-<\/strong> Bokra led and managed the issuance through its subsidiaries. ALC Alieldean Weshahi & Partners provided legal advisory, while Moore Egypt served as the independent financial advisor, and Baker Tilly handled auditing.<\/p>\n

SOUND SMART- <\/strong>A mudarabah sukuk is based on a profit-sharing agreement where the investors provide the capital and the issuer manages the project. Investors receive returns based on the profits generated \u2014 not fixed returns.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cThis issuance marks a key milestone in strengthening our Islamic finance offering\u201d Aman for Financial Services CEO Hazem Moghazi said<\/p>\n","protected":false},"author":1,"featured_media":664395,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[12155],"tags":[616,102,72,76,2337,280],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-664394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-islamic-finance","tag-aman-financial-services","tag-capital-markets","tag-enterpriseam","tag-financial-regulatory-authority","tag-islamic-finance","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"4619470e-e012-4fb3-95bc-9374706e342f","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1362.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aman for Microfinance wraps up EGP 3 bn in sukuk issuance","related_issue":[664381],"teaser":"\u201cThis issuance marks a key milestone in strengthening our Islamic finance offering\u201d Aman for Financial Services CEO Hazem Moghazi said","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.a4d695c4-503a-485a-b6f7-29dfb4f56b53.mp3"},"yoast_head":"\nAman for Microfinance wraps up EGP 3 bn in sukuk issuance - 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The issuance would make ECHEM the first state-owned company to issue sukuk. According to\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":568291,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/24\/sukuk-boomlet-continues\/","url_meta":{"origin":664394,"position":1},"title":"Sukuk boomlet continues","author":"enterpriseam admin","date":"24 December 2020","format":false,"excerpt":"EGX-listed private education outfit CIRA is planning a EGP 600 mn sukuk issuance to fund its expansion plans in school-level and higher education, as well as pay off some of its loans, the company\u2019s board said in a regulatory filing (pdf) approving the issuance. The sukuk will be backed by\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\/2020\/12\/415.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591977,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/23\/efg-planning-egp-1-bn-sukuk-issuance-for-egypts-tmg\/","url_meta":{"origin":664394,"position":2},"title":"EFG planning EGP 1 bn sukuk issuance for Egypt\u2019s TMG","author":"enterpriseam admin","date":"23 December 2019","format":false,"excerpt":"DEBT WATCH- EFG Hermes planning EGP 1 bn sukuk issuance for TMG? EFG Hermes will reportedly be leading a sukuk issuance worth over EGP 1 bn for Talaat Moustafa Group (TMG) as soon as it acquires a license that it has requested from the Financial Regulatory Authority (FRA), Al Mal\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":549555,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/contact-financial-closes-egp-2-bn-sukuk-issuance\/","url_meta":{"origin":664394,"position":3},"title":"Contact Financial closes EGP 2 bn sukuk issuance","author":"enterpriseam admin","date":"21 September 2022","format":false,"excerpt":"Contact Financial Holding has closed an EGP 2 bn sukuk issuance, after getting the greenlight from the Financial Regulatory Authority (FRA) yesterday, Contact Financial Holding CEO Said Zater told Amwal El Ghad. The sharia-compliant mudaraba sukuk has a seven-year tenor and the proceeds will be used to finance car purchases\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\/2022\/9\/300.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576520,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/29\/sarwa-sukuk-sets-record-as-biggest-yet-first-for-an-nbfs-player\/","url_meta":{"origin":664394,"position":4},"title":"Sarwa sukuk sets record as biggest yet + first for an NBFS player","author":"enterpriseam admin","date":"29 November 2020","format":false,"excerpt":"Egypt now has a sukuk issuance by a non-banking financial services player under its belt after Sarwa Capital closed its EGP 2.5 bn issuance, according to an EGX disclosure (pdf) Thursday. The sharia-compliant security carries a seven-year tenor and will be used to finance the expansion of Sarwa subsidiary Contact\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\/2020\/11\/290.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576402,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/sarwa-sukuk-issuance-gets-green-light-from-regulators\/","url_meta":{"origin":664394,"position":5},"title":"Sarwa sukuk issuance gets green-light from regulators","author":"enterpriseam admin","date":"23 November 2020","format":false,"excerpt":"DEBT WATCH- Biggest corporate sukuk yet gets regulatory approval: Sarwa Capital\u2019s EGP 2.5 bn sukuk issuance was approved by the Financial Regulatory Authority\u2019s (FRA) Sharia Supervisory Committee on Thursday, paving the way for it to become only the second company to issue sukuk in Egypt. The company yesterday signed the\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\/11\/239.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\/664394","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=664394"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/664394\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/664381"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/664395"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=664394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=664394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=664394"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=664394"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=664394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}