The Egyptian government is exploring the issuance of bonds denominated in Emirati dirhams, Indian rupees, and Hong Kong dollars, in a bid to broaden its financing options and attract global investors. Egyptian Finance Minister Mohamed Maait announced the potential move on the sidelines of the Asian Financial Forum in Hong Kong. He told UAE’s government-owned news agency WAM that the ongoing discussions with Hong Kong’s financial chief, Christopher Hui, regarding the possibility of issuing bonds in Hong Kong dollars. “These issuances will contribute to diversifying our debt portfolio and attracting investors worldwide at competitive rates,” Maait stated, citing recent successful offerings of green bonds worth $750m and sovereign sukuk (Islamic bonds) worth $1.5bn. The Minister also emphasized Egypt’s desire to strengthen cooperation with the United Arab Emirates, particularly in taxation, economic, financial, and investment spheres across all sectors.
