CBE issues 3-year sovereign sukuk worth EGP 5B

The Central Bank of Egypt (CBE) has issued EGP 5 billion in sovereign sukuk, with a fixed return and a tenor of three years.

The sukuk matures on February 10th, 2029, with returns paid on a semi-annual basis.

The CBE said that sovereign sukuk are Sharia-compliant financing instruments used by the government to fund various projects.

They serve as an alternative to conventional instruments such as bonds.