Sarwa Capital closed its inaugural Sukuk issuance of US$ 159.84m, the first in Egypt

EGYPT – Sarwa Capital for consumer and structured financial services has successfully closed its inaugural Sukuk issuance by Sarwa Sukuk, a subsidiary of Sarwa Capital, of EGP2.5 billion (US$ 159.84m), as Egypt seeks to attract a new segment of investments. The issuance is a Shariah compliant 7-year Mudarabah Sukuk and received a high credit rating of A- by the Middle East Ratings and Investors Service (MERIS). This issue is the first transaction of its kind and the largest Sukuk issuance in Egypt. The proceeds will be used for further expansion…

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