Tasaheel Completes EGP 7 Billion Sukuk Issuance to Strengthen Egypt’s Non-Banking Financial Sector

Tasaheel, a subsidiary of MNT-Halan specializing in lending to SMEs and entrepreneurs, has successfully completed a EGP 7 billion ($138 million) Mudaraba Sukuk issuance.

The issuance aims to expand financial access for underserved businesses and enhance financial inclusion in Egypt.

The five-year Sukuk received an “A” credit rating from Middle East Rating & Investor Services (MERIS) and an “Excellent” sustainability rating from Moody’s. The issuance attracted strong investor demand, with a subscription coverage of 1.2 times.

The process was overseen by Egypt’s Financial Regulatory Authority (FRA), with financial and legal advisory support from Commercial International Bank (CIB) and CI Capital as financial advisors, Matouk Bassiouny & Hennawy as legal counsel, and KPMG as transaction auditor.

This issuance strengthens Tasaheel’s ability to offer innovative financial solutions to SMEs, supporting sustainable economic growth in Egypt.