FRA Chairperson Mohamed Omran. Photo: Al-Ahram
The total amount of securitised bonds issued since the beginning of 2022, after the approval of the NUCA's latest request, will reach EGP 30 billion.
It will be the biggest issuance of its kind in the Egyptian capital market.
In statements on Tuesday, FRA Chairperson Mohamed Omran said that with the launch of the first phase of the 2018/2022 comprehensive strategy for non-financial activities in 2018, the authority seeks to activate and develop debt instruments; corporate bonds, future-flow securitised bonds and sukuk, given their vital role in developing the Egyptian capital market and creating an added value for the national economy.
Following the approval of the NUCA's request, the total value of bonds and sukuk will up to EGP 34 billion, Omran said.
In July, the authority said that it finalised receiving and discussing a number of proposals on the second stage of its 2022-2026 comprehensive strategy for non-financial activities.