The Egyptian government is mulling over the possibility of issuing bonds for the first time denominated in Emirati dirhams, Indian rupees, and Hong Kong dollars. The move is part of the ministry's pursuit of a diversified financing strategy, encompassing multiple markets, investors and financing tools. He underscored the recent issuance of green bonds worth $750 million and sovereign sukuk worth $1.5 billion. Minister Maait emphasised the Egyptian government's keenness to boost cooperation with the UAE, especially in taxation, economic, financial, and investment fields, across all sectors. He added that the Egyptian Ministry of Finance is also committed to smoothing any tax or customs hurdles Emirati businesses might face in Egypt.

Source: The North Africa Journal January 29, 2024 11:15 UTC