Egypt's CIRA mulls issuance of Ijara Sukuk

The company said in a bourse disclosure that it is looking for means to finance its projects

  
Image used for illustrative purpose. Close-Up Of Rosary Beads With Coins And Text Blocks In Wooden Box On White Background.

Image used for illustrative purpose. Close-Up Of Rosary Beads With Coins And Text Blocks In Wooden Box On White Background.

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Cairo – Cairo for Investment and Real Estate Development (CIRA) is currently considering to issue Ijara Sukuk compliant with the Islamic Sharia.

In response to news reports about the company seeking to issue EGP 600 million Sukuk, the company said in a bourse disclosure on Tuesday that it is looking for means to finance its projects.

Any other details will be disclosed after taking a final decision regarding this matter in the next board meeting, the company added.

During the nine-month period ended on 31 May, CIRA reported net profits of EGP 330.4 million, compared to EGP 231.56 million in the year-ago period.

Source: Mubasher

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