ArabFinance: Sarwa Capital Holding (EGX:SRWA) obtained on November 19th the approval of the Financial Regulatory Authority’s (FRA) Sharia Supervisory Committee to issue Sukuk of EGP 2.5 billion, Vice Chairman of FRA's board Reda Abdel Moati said to Al-Mal news website.
Sarwa signed an agreement with Banque Misr and Misr Capital Company to guarantee, promote and cover EGP 2.5billion issuance of Sukuk of Contact Finance.
The company will issue Sukuk before the end of the year, unnamed sources told Daily News Egypt.
The listed company posted a consolidated net profit before minority interest of EGP 193,864,694 in the January-September period of 2020, compared to EGP 279,925,611 achieved in the prior-year period.
Sarwa offers financial solutions such as auto credit, insurance, and consumer finance.
The group also helps and structures debt transactions for companies that need to access debt capital markets to fund growth, manage risk, improve financial standing, and raise liquidity.
