Egypt: FRA licenses GB Capital’s sukuk issuance activities

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The company’s Islamic Sharia-compliant sukuk activity is expected to support its non-banking financial subsidiaries, GB Capital’s Tamer El-Amry said

Staff Writer, Arab Finance

February 27, 2024

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The Financial Regulatory Authority (FRA) has granted GB Capital for Financial Investments a license to run sukuk issuance activity via its arm GB Capital Sukuk, with a capital of EGP 10 million, as per an emailed press release.

The company’s Islamic Sharia-compliant sukuk activity is expected to support its non-banking financial subsidiaries, GB Capital’s Tamer El-Amry said.

This is in addition to luring real estate developers to secure the liquidity needed for achieving growth, according to GB Capital Sukuk’s Managing Director Mohamed Aburiah.

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