Egypt Plans to Issue First Sovereign Sukuk Before End of Fiscal Year

A general view of banks, hotels, office and residential buildings in the center of Cairo, Egypt, September 13, 2018. REUTERS/Amr Abdallah Dalsh

Egypt plans to issue its first sovereign sukuk before the end of the current fiscal year ending in June, Finance Minister Mohamed Maiit said in a statement on Saturday.

Maait also said that Egypt plans to tap the Japanese market by offering new issues in the future.

Last month, Egypt issued 60 billion yen ($489.84 million) in five-year samurai bonds on the Japanese market.