{"id":674356,"date":"2025-10-28T00:00:00","date_gmt":"2025-10-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/28\/our-first-ever-first-ever-egp-denominated-sukuk-issuance-postponed-to-next-week\/"},"modified":"2025-10-28T00:00:00","modified_gmt":"2025-10-28T00:00:00","slug":"our-first-ever-first-ever-egp-denominated-sukuk-issuance-postponed-to-next-week","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/28\/our-first-ever-first-ever-egp-denominated-sukuk-issuance-postponed-to-next-week\/","title":{"rendered":"Our first ever first-ever EGP-denominated sukuk issuance postponed to next week"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> The Madbouly government postponed its first-ever local sukuk <\/strong><strong>issuance to next Monday<\/strong>, with settlement scheduled for the following day, after originally being pencilled in for <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf61794d-31ee-4f93-9f1b-0b7aa86322c9\/egypt-to-issue-its-first-ever-egp-denominated-sukuk-this-month\" style=\"\" rel=\"noopener\">this week<\/a>, a senior government official told EnterpriseAM. The move marks the third time the shariah-compliant issuance has been postponed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What is behind the delay?<\/strong> Officials in charge of arranging the issuance need more time to align and connect the technical systems of the Central Bank of Egypt, the Finance Ministry, and other involved entities so they can carry on with weekly issuances following the maiden issuance next week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The forthcoming issuance is part of a wider sukuk program valued at EGP 50 bn<\/strong> \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf61794d-31ee-4f93-9f1b-0b7aa86322c9\/egypt-to-issue-its-first-ever-egp-denominated-sukuk-this-month\" style=\"\" rel=\"noopener\">double<\/a> the initial target planned for the fiscal year, a government official told us last week. The first EGP 3 bn, three-year tranche of the program will be an ijara issuance \u2014 a leasing-based Islamic security \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bbf39fe3-7273-4890-a73d-1616408be585\/gcc-sovereign-wealth-fund-to-announce-big-ticket-project-in%253cmark%253e-ras%253c%2Fmark%253e-shukeir-in-the-coming-days\" style=\"\" rel=\"noopener\">linked to assets owned by the Finance Ministry<\/a> in the Red Sea\u2019s Ras Shukeir area, our source from yesterday told us.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Several banks are interested in subscribing to the first-of-its-kind issuance in the local <\/strong><strong>market<\/strong>, according to our source from last week. The Finance Ministry had been holding meetings with representatives from 15 banks in an attempt to further raise the program to EGP 200 bn by next June, they added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The issuance is expected<\/strong><strong> to boost investments in local debt instruments<\/strong> and attract a new segment of investors eyeing shariah-compliant securities, with the aim of diversifying the country\u2019s range of debt offerings, we were told.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This program comes within the public debt strategy framework set to launch <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a07b9e8f-69fa-4884-9208-32dbf41e907d\" style=\"\" rel=\"noopener\">next<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a07b9e8f-69fa-4884-9208-32dbf41e907d\" style=\"\" rel=\"noopener\">December<\/a><\/strong>, which will feature social and sustainability bond issuances. The strategy aims to reduce public debt to below 75% of total GDP in three years, down from 85% in the previous fiscal year, while reducing debt servicing costs to 7% of GDP and extending the debt maturity to five years. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The move marks the third time the shariah-compliant issuance has been postponed<\/p>\n","protected":false},"author":1,"featured_media":674357,"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":[7274],"tags":[7106,88,72,2337,280],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-674356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt","tag-debt-watch","tag-enterpriseam","tag-islamic-finance","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"28d0ab14-2513-43c8-89c3-ddbeb1e5e7c2","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/1489.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s first ever first-ever EGP-denominated sukuk issuance postponed to next week","related_issue":[674351],"teaser":"The move marks the third time the shariah-compliant issuance has been postponed","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.52097bea-3ac6-491f-8d34-2d5f920ee2b0.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Our first ever first-ever EGP-denominated sukuk issuance postponed to next week - 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\/2025\/10\/28\/our-first-ever-first-ever-egp-denominated-sukuk-issuance-postponed-to-next-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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2022","format":false,"excerpt":"Palm Hills Developments\u2019 general assembly approves EGP 3.25 bn sukuk issuance: Shareholders voting at the company\u2019s ordinary general assembly approved the issuance of shariah-compliant bonds worth EGP 3.25 bn at a meeting on Sunday, after its board of directors greenlit the sale in February, according to a disclosure to the\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570659,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/09\/tmg-to-issue-egypts-first-corporate-sukuk-after-securing-fra-approval\/","url_meta":{"origin":674356,"position":1},"title":"TMG to issue Egypt\u2019s first corporate sukuk after securing FRA approval","author":"enterpriseam admin","date":"9 April 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TMG subsidiary the Arab Company for Projects and Urban Development will sell the shariah-compliant bonds\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":544893,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/27\/we-made-our-samurai-bond-debut-phd-closes-its-egp-3-25-bn-sukuk-offering\/","url_meta":{"origin":674356,"position":2},"title":"We made our Samurai bond debut + PHD closes its EGP 3.25 bn sukuk offering","author":"enterpriseam admin","date":"27 March 2022","format":false,"excerpt":"Egypt successfully closed its maiden Samurai bond issuance, selling USD 500 mn (c.JPY 60 bn) of the JPY-denominated bonds in Japan today, the Finance Ministry said in a statement Thursday. The ministry took the issuance to market despite the spillover from the Russian invasion of Ukraine, and the sale makes\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/357.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573005,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/16\/sarwa-submits-prospectus-for-egypts-second-corporate-sukuk-issuance\/","url_meta":{"origin":674356,"position":3},"title":"Sarwa submits prospectus for Egypt\u2019s second corporate sukuk issuance","author":"enterpriseam admin","date":"16 July 2020","format":false,"excerpt":"DEBT WATCH- Sarwa submits prospectus for Egypt\u2019s second corporate sukuk issuance: Consumer- and structured- finance player Sarwa Capital is preparing a single-tranche EGP 2.5 bn corporate sukuk issuance, Ayman El Sawy, managing director of Sarwa Promotion & Underwriting, told Hapi Journal. Sarwa has already submitted the prospectus for the issuance\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/126.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598035,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/13\/adib-capital-to-manage-egypts-first-sukuk-issuance\/","url_meta":{"origin":674356,"position":4},"title":"ADIB Capital to manage Egypt\u2019s first sukuk issuance","author":"enterpriseam admin","date":"13 May 2019","format":false,"excerpt":"ADIB Capital to manage the Egypt\u2019s first corporate sukuk issuance: ADIB Capital, the investment banking arm of Abu Dhabi Islamic Bank, will managing a USD 50 mn sukuk issuance that it claims is the first to come out of the nation\u2019s corporate sector, unidentified sources told Hapi Journal. Hapi says\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":674356,"position":5},"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 &quot;DEBT WATCH&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/674356","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=674356"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/674356\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/674351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/674357"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=674356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=674356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=674356"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=674356"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=674356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}