Latest news with #Awadallah
Daily News Egypt
24-05-2025
- Business
- Daily News Egypt
IDB participates in two Sukuk issuances worth EGP 500m
The Industrial Development Bank (IDB) has taken part in two significant Sukuk issuances during the first half of 2025, with a total contribution of EGP 500m, further expanding its presence in the Islamic finance market. The first issuance was a Mudaraba Sukuk worth EGP 3bn, issued by Aman for SME Financing. The proceeds will be directed toward expanding the company's portfolio of productive project financing, in line with national goals to promote financial inclusion and job creation through support for small and medium-sized enterprises. The second issuance involved a Musharaka Sukuk valued at EGP 2.8bn for the 'Bab Misr' project, an infrastructure development led by a subsidiary of Hassan Allam Group. The project will fund the construction of the Upper Egypt Train Terminal, a major transport hub aimed at improving logistics, boosting regional development, and upgrading the country's transportation infrastructure. IDB's participation in this project reflects its commitment to supporting initiatives that deliver strong economic and developmental impact, especially through public-private partnerships. Mennat Allah Awadallah, Deputy CEO and Managing Director of IDB, described the bank's debut in the Sukuk market as a strategic milestone. 'We are proud to mark our first entry into the Sukuk market through two prominent issuances alongside several leading banks. Our EGP 500m participation marks the beginning of our presence in this promising market,' she said. 'This aligns with our broader strategy to support both conventional and innovative financing models that contribute to economic growth, empower productive sectors, and create more job opportunities—especially in vital areas of the economy.' Awadallah emphasized that the bank's move into Sukuk is part of its long-term commitment to developing Islamic finance in Egypt and to providing alternative investment channels tailored to market needs. She noted that IDB aims to serve as a conduit between capital and real economic activity, driving sustainable and inclusive development. As of the end of April 2025, IDB's innovative finance portfolio, which includes Sukuk and securitization, had grown to EGP 1.5bn—a six-fold increase from its 2023 level. This rapid growth underscores the bank's strategic pivot toward diversified financial instruments and its evolving role in Egypt's capital markets.
Time Magazine
08-05-2025
- Health
- Time Magazine
Younis R. Awadallah
Younis R. Awadallah, a doctor who was once UNICEF's top public health specialist in Gaza, had worked through four previous Israeli military campaigns from 2008 to 2021 before retiring. But after the October 7, 2023 Hamas attack and Israel's subsequent assault, he returned to work in January 2024 to lead critical health operations. 'This war is like no other,' he says from Gaza, pausing mid-call as bombs fell nearby. 'There's a shortage of supplies, movement, monitoring—everything.' When UNICEF was forced to evacuate from Rafah in southern Gaza, Awadallah found a building in central Gaza with a meat freezer to safely store vaccines. And when a resurgence of polio was detected in Gaza in July, he led a near-impossible campaign: vaccinate nearly 600,000 children across Gaza—twice—despite destroyed roads, drone attacks, and disrupted communications. Awadallah went door-to-door to urge families to vaccinate. Over 90% of children were reached—a massive success by any measure. But even for Awadallah, there are limits to his resourcefulness. Israel has blocked entry of all humanitarian aid for two months, and the fourth round of vaccinations is on hold because polio vaccines can't enter. The health system is crumbling without medicine and medical equipment. 'We can't get supplies. No gauze for wounds. No gloves for surgery,' Awadallah says. 'The situation is catastrophic.'
Zawya
29-04-2025
- Business
- Zawya
ASPECT debuts in Egypt with $295mln Jade and Blue project in New Cairo
ASPECT has announced its entry into Egypt's real estate market with the launch of its first residential development, Jade and Blue, located in New Cairo's Fifth Settlement near the American University in Cairo. Ahmed Awadallah, CEO of ASPECT and Chairman of UDesign Holding told Zawya Projects that the boutique compound covers 12 acres and is backed by an investment of 15 billion Egyptian pounds ($295 million), with delivery planned within four years. He said the company is also implementing the 'Winds' residential tower in partnership with UAE-based Aldar, representing a further EGP 5 billion ($99 million) investment. For Jade and Blue, ASPECT has partnered with Inversion as the strategic business and project development consultant, Grid Design and Engineering as the lead architect, and UDesign Holding for construction. Awadallah said the development strategy emphasises modern simplicity, sustainable construction methods, and efficient resource management. He added that ASPECT has plans for further expansion across East and West Cairo over the next five years, targeting opportunities in the luxury and human-centric community segments. (1 US Dollar = 50.76 Egyptian Pounds) (Reporting by Marwa Abo Almajd; Editing by Anoop Menon) (
Asharq Al-Awsat
09-02-2025
- Politics
- Asharq Al-Awsat
Nizar Awadallah: ‘Hidden Key' in the Gaza Negotiations
As Hamas released a new batch of Israeli captives on Saturday, sources within and close to the movement revealed that a senior leader played a crucial yet largely unseen role in the negotiations that led to the prisoner exchange deal and the ceasefire in the Gaza Strip. According to these sources, Nizar Awadallah was the 'hidden key' in the Gaza talks, particularly as the process moved into its second phase with Israel. Awadallah, a senior Hamas leader, was one of the most influential figures in managing the negotiations. His role was pivotal in identifying critical gaps in the talks and addressing them before they could become obstacles. While he did not participate directly in all meetings with mediators, he frequently engaged in internal discussions with the Hamas leadership, ensuring that the negotiating team avoided strategic missteps. Currently, Awadallah is outside Gaza, having left shortly before the recent war along with other senior Hamas political bureau members. Sources indicated that he played a key role in extensive meetings with Hamas' political chief, Ismail Haniyeh, before the latter was assassinated in Tehran last year. Awadallah was reportedly cautious about Israel's commitment to agreements, often advocating for stricter conditions that would compel Tel Aviv to comply. He pushed for a more stringent approach to the prisoner exchange mechanism, seeking to ensure that Hamas would not be left vulnerable to Israeli maneuvering. While sources stopped short of calling him the 'planner' of the current ceasefire and exchange deal, they emphasized his significant role alongside other key Hamas figures. Awadallah was instrumental in past negotiations, particularly in the 2006 capture and subsequent 2011 prisoner exchange for Israeli soldier Gilad Shalit. A year after the exchange, Israeli media identified him as one of its mastermind, alongside Ahmad al-Jaabari, the slain commander of Hamas' military wing, Al-Qassam Brigades. Beyond negotiations with Israel, Awadallah also played a crucial role in talks between Hamas and Fatah aimed at Palestinian national reconciliation. He was involved in multiple rounds of discussions hosted by various countries. He briefly led Hamas' political bureau in Gaza between late 2004 and early 2007, a period marked by intense political and military challenges. It was during this time that Hamas took control of Gaza by force, captured Shalit, and faced international isolation after forming the Palestinian government in 2006—only to be swiftly dismissed by Palestinian President Mahmoud Abbas. Awadallah is considered part of Hamas' founding generation, closely associated with the movement's spiritual leader, Sheikh Ahmed Yassin, as well as senior figures like Abdel Aziz al-Rantisi. He was deeply involved in shaping Hamas' early strategies and political direction. During the latest war in Gaza, Awadallah suffered a loss when his eldest son, Ubaida, was killed in an Israeli airstrike.
