Latest news with #Mudaraba
Zawya
26-05-2025
- Business
- Zawya
Industrial Development Bank participates in two Sukuk issuances
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.
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.
Al Bawaba
15-05-2025
- Business
- Al Bawaba
Amlak Finance announces financial results or Q1 2025
Amlak Finance PJSC today announced its quarterly financial results for the period ended 31 March 2025. The company focused on prudently managing its UAE operations and balance sheet. In Q1 2025, Amlak reported a net profit after income tax of AED 28 million, compared to a net profit after income tax of AED 27 million for Q1 2024, representing a 4% increase quarter on quarter. Amlak's total revenue for Q1 2025 increased by 15% to AED 76 million as compared to AED 66 million in Q1 2024. Meanwhile, revenues from financing and investing business activities for Q1 2025 decreased by 35% to AED 22 million as compared to AED 34 million in Q1 2024. Amlak achieved greater operational efficiency, with operating costs decreasing by 18% to AED 18 million in Q1 2025, compared to AED 22 million in the same period last year. Further, the company also recorded lower cost of distribution to financiers of AED 14 million in Q1 2025 compared to AED 16 million in Q1 2024 on investment deposits. The company remained committed to meeting its financial obligations, with a repayment of AED 35 million to financiers during the quarter. To date, Amlak has settled 91% of its Islamic deposit liabilities, including Mudaraba Instrument related to financiers. Notably, Amlak successfully secured the signature of all financiers on the restated Common Terms Agreement, which governs the new terms of the company's debt restructuring. The agreement became effective on 17 March 2025. Additionally, Amlak secured shareholder approval on the sale of the company's plots located in Ras Al Khor classified under investment properties. In the region, Amlak's investments contributed AED 3 million in income during the quarter.
Zawya
15-05-2025
- Business
- Zawya
Amlak Finance sees 4% higher profits in Q1-25
Dubai – Amlak Finance registered net profits after income tax valued at AED 27.55 million in the first quarter (Q1) of 2025, an annual rise of 4% from AED 26.75 million. Basic earnings per share (EPS) increased to AED 0.002 in Q1-25 from AED 0.001 a year earlier, according to the financial results. Amlak's total revenue jumped by 15% year-on-year (YoY) to AED 76 million as of 31 March 2025 from AED 66 million. Meanwhile, revenues from financing and investing business activities decreased by 35% to AED 22 million in Q1-25 from AED 34 million in Q1-24. To date, Amlak has settled 91% of its Islamic deposit liabilities, including Mudaraba Instrument related to financiers. In 2024, the company's net profits fell to AED 52.37 million from AED 259.26 million in 2023. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
CairoScene
01-05-2025
- Business
- CairoScene
Egyptian Fintech Bokra Issues $58.9M Sukuk to Boost Islamic Fintech
The 84-month Mudaraba sukuk, structured and managed by Bokra, is listed on the Egyptian Stock Exchange. May 01, 2025 Egyptian fintech startup Bokra has issued its first Sharia-compliant sukuk (Islamic bond), raising EGP 3 billion (approximately $58.9 million) to support small and medium-sized enterprises (SMEs) through Aman Project Finance, a subsidiary of Aman Holding. The 84-month Mudaraba sukuk, structured and managed entirely by Bokra, has been rated BBB+ by MERIS and is listed on the Egyptian Stock Exchange. Institutional investors such as Suez Canal Bank, Arab African International Bank, and Al Baraka Bank participated in the issuance, with Al Ahly Pharos acting as lead arranger. This marks Bokra's entry into the project finance space and expands its asset-backed product offerings aimed at providing inflation-hedged investment options. Aman Holding CEO Hazem Moghazi stated that the funds will be used to diversify the company's Islamic lending portfolio, with a particular focus on Egypt's underserved SME segment. Bokra received its fintech license from Egypt's Financial Regulatory Authority (FRA) in 2024, enabling fully digital onboarding and electronic contracting. This development follows its $4.6 million pre-seed round in 2023, led by DisrupTech Ventures and SS Capital, which financed the launch of its app and early-stage expansion into the MENA region. Founded in 2023, Bokra offers fractional investment opportunities tailored to users' risk profiles, aiming to reach Egypt's unbanked majority, an estimated 63% of adults. The sukuk also introduces a new pricing model designed to offer SMEs a viable financing alternative amid Egypt's high-interest rate environment.
