ADIB Egypt to set up sukuk company with authorised capital of EGP 100m
Published 12 Jul,2021 via Daily News Egypt - The Abu Dhabi Islamic Bank-Egypt’s (ADIB Egypt) board has approved the decision to proceed with setting up a sukuk company.
In a statement to the Egyptian Exchange, on Saturday, ADIB Egypt said the company will be established with an authorised capital of EGP 100m and issued capital of EGP 10m.
An official source told Daily News Egypt that the company aims to implement the offering of sukuk before the end of 2021, with a value exceeding EGP 1bn. The bank will own 98% of the to-be-established sukuk company.
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Daily News Egypt