{"id":686812,"date":"2026-02-06T00:00:00","date_gmt":"2026-02-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/06\/finmin-and-egx-prepare-to-activate-secondary-market-for-sovereign-sukuk\/"},"modified":"2026-02-06T00:00:00","modified_gmt":"2026-02-06T00:00:00","slug":"finmin-and-egx-prepare-to-activate-secondary-market-for-sovereign-sukuk","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/06\/finmin-and-egx-prepare-to-activate-secondary-market-for-sovereign-sukuk\/","title":{"rendered":"FinMin and EGX prepare to activate secondary market for sovereign sukuk"},"content":{"rendered":"

Good morning, friends, and happy weekend. <\/strong>It\u2019s been a busy week both at home and in the global press, and we\u2019re glad to catch a breather. This week, the EGX welcomed fresh new faces, FinMin moved to activate a secondary market for sovereign sukuk, and global stock markets took a hit. We\u2019ve got the full rundown below.<\/p>\n

With a number of holidays fast approaching, there will be plenty of moments we\u2019ll <\/strong>want to immortalize<\/strong> \u2014 but how do we do that without sentencing our memories to solitary confinement in our phone galleries? In this week\u2019s edition of The Enterprise Guide, we\u2019re looking at ways you can safeguard your favorite memories, all while enjoying the moment. <\/p>\n

\ud83d\uddde\ufe0f LAST WEEK IN 3 MINS-<\/p>\n

DEBT WATCH-<\/strong><\/p>\n

The Finance Ministry and the EGX are <\/strong>preparing to activate a secondary market<\/a><\/strong> for sovereign sukuk after Egypt\u2019s EGP 200 bn sovereign sukuk program saw softened demand. <\/strong>The move to shift sukuk from the primary market to open exchange trading is designed to maximize returns and attract fresh liquidity as Egypt\u2019s Islamic finance market matures.<\/p>\n

ECONOMY-<\/strong><\/p>\n

#1- <\/strong>The Madbouly government <\/strong>is <\/strong>planning to allocate<\/a><\/strong> nearly EGP 250 bn in the FY 2026-2027 budget to fund financing initiatives targeting the industrial, export, and tourism sectors.<\/strong> The move supports the government\u2019s target of raising industry\u2019s GDP contribution to 20% by 2030 and meeting its USD 145 bn export goal.<\/p>\n

#2- Egypt saw its non-oil private sector <\/strong>slip back into the red<\/a><\/strong> for the first time in four months, but it\u2019s not all bad news. <\/strong>Despite the country\u2019s headline figure, output rose for the third consecutive month.<\/p>\n

CAPITAL MARKETS-<\/strong><\/p>\n

The EGX30 got a facelift, with four constituents <\/strong>exiting the benchmark EGX30 index<\/a><\/strong>, replaced by four newcomers<\/strong>. Sidpec, Mopco, and Credit Agricole departed the index, alongside real estate player Madinet Masr. Taking their places are snacks giant Edita, Heliopolis Housing, Kima, and Orascom Investment Holding.<\/p>\n

AND- The EGX30 index concluded January at a <\/strong>record high<\/a><\/strong> of 47.78k points<\/strong>, marking a sharp 14.2% monthly increase.<\/p>\n

COMMODITIES-<\/strong><\/p>\n

The government has officially <\/strong>resumed sugar exports<\/a><\/strong> to help local producers clear a massive 1-mn-ton inventory surplus.<\/strong> With a 10-month strategic reserve in place and the beet harvest beginning, the decision to reverse the export ban after three years is designed to provide an immediate liquidity injection for state and private factories struggling with high overheads.<\/p>\n

FINTECH-<\/strong><\/p>\n

The Central Bank of Egypt has <\/strong>officially launched<\/a><\/strong> its regulatory framework for software point-of-sale (soft POS) devices<\/strong>, allowing merchants to turn any NFC-enabled smartphone or tablet into a payment terminal. The move follows a two-year pilot phase that had restricted contactless payment transactions to EGP 600; that limit has now been lifted, allowing soft POSes to function par with dedicated hardware terminals.<\/p>\n

AUTOMOTIVE-<\/strong><\/p>\n

Abou Ghaly Motors is now the official importer and distributor of Piaggio Group\u2019s iconic Vespa, Piaggio, Aprilia, and Moto Guzzi brands in Egypt under <\/strong>an agreement<\/a><\/strong> inked between the two.<\/strong> The two companies confirmed future plans to localize the assembly of several models of the Italian brand in Egypt.<\/p>\n

RETAIL-<\/strong><\/p>\n

Mobile phone prices jumped locally by as much as 20% this week <\/strong>in response to a 50% rise in the cost of local production inputs<\/a><\/strong>.<\/strong> Vivo prices are up by 17%, Oppo is up 15%, and Samsung is up by 5%).<\/p>\n

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\ud83c\udf0d AROUND THE WORLD IN SEVEN DAYS- <\/p>\n

<\/p>\n

It\u2019s<\/strong> been a busy week in the global press, with a mixed bag of headlines dominating the digital front pages.<\/strong> In trade news, Indian Finance Minister Nirmala Sitharaman announced that India would cut tariffs<\/a> on a number of capital goods needed to process critical minerals. The move will allow India to reduce its dependence on China, incentivize local manufacturing of rare earths, and lower costs for exporters hit by US trade policies. A few days later, US President Donald Trump announced a trade agreement<\/a> with India to cut tariffs from 50% to 18%. India would halt Russian oil purchases and buy over USD 500 bn of US energy, technology, agriculture, coal, and other products.<\/p>\n

Dominating the business press, Elon Musk <\/strong>set a record for the largest merger<\/a><\/strong> in history when SpaceX acquired xAI<\/strong>, valuing the entities at USD 1.25 tn. The transaction unified Musk\u2019s AI and space ambitions to \u201cform the most ambitious, vertically integrated innovation engine on (and off) Earth.\u201d The merger comes as SpaceX plans an IPO that could value it at over USD 1.5 tn.<\/p>\n

AND- It was a rocky week for precious metals.<\/strong> Monday saw a crash \u2014 gold and silver prices plunged<\/a>, sending shockwaves through global stock markets. The precious metals bounced back on Wednesday after a sell-off triggered by Anthropic\u2019s latest AI model for lawyers sent global software stocks crashing. The selloff \u2014 which wiped about USD 1 tn off software stocks over the week \u2014 then <\/a>prompted another precious metal crash<\/a><\/a> on Thursday, with silver plunging 17% and gold dipping 3.5%. <\/p>\n

ALSO- The Washington Post <\/strong>laid off<\/a><\/strong> nearly one-third of its work force<\/strong>, effectively eliminating its sports section, book department, and scaling back on a slew of foreign bureaus and coverage desks.<\/p>\n

CLOSER TO HOME- the Rafah border between Egypt and the Gaza strip <\/strong>was reopened<\/a><\/strong> to allow movement between both countries. 50 patients, each accompanied by a maximum of two relatives, would be allowed to exit the strip daily.<\/p>\n

Two days later, Israeli strikes on Gaza <\/strong>killed 19 Palestinians<\/a><\/strong> on Wednesday<\/strong> \u2014 most of whom were women and children. The attack came in response to an alleged ceasefire violation by Hamas, with Israel pledging to continue its strikes.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\u2600\ufe0f THE WEATHER THIS WEEKEND- <\/p>\n

Craving some warmth? We\u2019ll be getting plenty of sun this weekend in Cairo. <\/strong>Today, temperatures are set to peak at 25\u00b0C before cooling down to 16\u00b0C. Tomorrow will be slightly warmer, with a high of 26\u00b0C and a low of 18\u00b0C, according to our favorite weather app. <\/p>\n

\n

\ud83c\udfa4 HAPPENING THIS WEEKEND-<\/p>\n

The Garden Market returns for your pre-Ramadan and Valentine\u2019s <\/strong>shopping fix at East View Mall in New Cairo<\/strong>, running for two consecutive weekends. Expect a wide range of local brands and vendors<\/a> \u2014 doors are open from 12pm to 11pm.<\/p>\n

Catch Voices of the Century at The New Capital Opera House for a night of operatic <\/strong>arias and orchestral masterpieces tonight.<\/strong> Legendary Spanish operatic tenors Jos\u00e9 Carreras and Pl\u00e1cido Domingo alongside Greek Soprano Christina Poulitsi and Egypt\u2019s very own Soprano Fatma Said will be taking to the stage for a special musical experience<\/a>. The magical night concludes with an orchestra by Italian Maestro Francesco Ivan Ciampa. Tickets are available on Tazkarti<\/a>. <\/p>\n

Up for some pre-Ramadan shopping? <\/strong>Cairo Flea Market is hosting a special Ramadan edition<\/a> at its new location Heliopolis\u2019 Ghurnata Community Space tomorrow. Browse vintage finds, local treasures, and get an early dose of the Ramadan spirit before all the family gatherings kick off. Doors are open from 10am to 10pm. <\/p>\n

\n

\ud83c\udfa4 HAPPENING NEXT WEEKEND-<\/p>\n

A fan of animation art? Animatex, Egypt\u2019s biggest animation event is <\/strong>coming to AUC Ewart Hall<\/strong>, taking place from Wednesday, 11 February to Sunday, 15 February. Now in its sixth year, the festival<\/a> celebrates 90 years of Egyptian animation, screening 15 feature films and 200 short films selected from Arab and international submissions in the annual Animatex competition \u2014 plus a packed program of talks, workshops, and masterclasses. Tickets are available on Ticketsmarch\u00e9<\/a>. <\/p>\n

Got a big appetite for Thai cuisine? <\/strong>The Thai Food Bazaar<\/a> is back in Zamalek\u2019s Al Horreya Garden this weekend and the next, with doors open from 12-8pm. Experience all the authentic flavors of Thailand including street food, cooking shows and live demos, and Thai drinks and sweet treats. Bring your friends and family and dig in. <\/p>\n

Another live performance at the Grand Egyptian Museum? <\/strong>Count us in. This time, multi-platinum Canadian singer-songwriter Bryan Adams<\/a> is taking over GEM nights on Friday, 13 February with a setlist of his biggest hits. Tickets are available on Tazkarti<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, friends, and happy weekend. It\u2019s been a busy week both at home and in the global press, and we\u2019re glad to catch a breather. This week, the EGX welcomed fresh new faces, FinMin moved to activate a secondary market for sovereign sukuk, and global stock markets took a hit. 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At home, we\u2019ve got news that the Finance Ministry is set to activate secondary trading for sovereign sukuk, and abroad, there seems to be yet another sell-off. Also in today\u2019s issue: we break down the latest AI safety report and see whether or not\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/11\/1565.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569373,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/23\/egypt-inches-closer-to-maiden-sukuk-issuance-as-finmin-completes-sukuk-act\/","url_meta":{"origin":686812,"position":1},"title":"Egypt inches closer to maiden sukuk issuance as FinMin completes Sukuk Act","author":"enterpriseam admin","date":"23 February 2020","format":false,"excerpt":"LEGISLATION WATCH- Egypt inches closer to maiden sukuk issuance as FinMin completes Sukuk Act: The Finance Ministry has completed the drafting of the Sovereign Sukuk Act and passed it to cabinet for review, an official draft suggests (pdf). Cabinet will, after approving the legislation, send it to the House of\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":548170,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/state-ipos-may-be-possible-this-year-but-first-sukuk-could-be-sold-at-home-maait\/","url_meta":{"origin":686812,"position":2},"title":"State IPOs may be possible this year, but first sukuk could be sold at home \u2013Maait","author":"enterpriseam admin","date":"28 July 2022","format":false,"excerpt":"The government is still holding out hope that it could sell stakes in as many as 10 companies before the end of the year, Finance Minister Mohamed Maait told Al Arabiya yesterday (watch, runtime: 1:16), insisting that a state program to divest assets through IPOs and secondary sales of already-listed\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/302.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581587,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/16\/this-morning-sovereign-sukuk-as-soon-as-next-week-and-worth-up-to-usd-5-bn_storyhedweb_-egypt-to-issue-its-maiden-sovereign-sukuk-as-soon-as-next-week\/","url_meta":{"origin":686812,"position":3},"title":"THIS MORNING: Sovereign sukuk as soon as next week? And worth up to USD 5 bn?!_StoryHedWeb_! Egypt to issue its maiden sovereign sukuk as soon as next week?","author":"enterpriseam admin","date":"16 February 2023","format":false,"excerpt":"Final timing of the issuance dependent on market conditions","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/sukuk-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581200,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/17\/today-lots-of-investment-and-oil-and-gas-and-news-look-out-for-our-first-sovereign-sukuk\/","url_meta":{"origin":686812,"position":4},"title":"TODAY: Lots of investment and oil and gas and news + look out for our first sovereign sukuk","author":"enterpriseam admin","date":"17 February 2023","format":false,"excerpt":"Good morning, wonderful people, and happy weekend to you all. We\u2019re back this morning with issue two of our rebooted Enterprise Weekend Edition. The Weekend Edition is light on news and heavy on stories to read, videos to watch, and podcasts to which you may want to listen on Friday\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/Oil-Drilling-Energy-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":686220,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/05\/finmin-targets-egp-250-bn-in-fy-2026-2027-to-drive-industry-exports-and-tourism\/","url_meta":{"origin":686812,"position":5},"title":"FinMin targets EGP 250 bn in FY 2026-2027 to drive industry, exports, and tourism","author":"enterpriseam admin","date":"5 February 2026","format":false,"excerpt":"Good afternoon, friends, and congratulations on making it to the weekend. It\u2019s been a busy week in the press \u2014 and today is no different. Abroad, the tech sell-off continues, and at home, industry and tourism are set for a boost in the FY 2026-2027 budget. Also in today\u2019s issue:\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/1\/197.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\/686812","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=686812"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/686812\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/weekend\/686810"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/686813"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=686812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=686812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=686812"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=686812"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=686812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}