January 18, 2022

CIB issues $100M green bonds


ArabFinance: The Financial Regulatory Authority (FRA) announced that the volume of securities issuance recorded EGP 280 billion in 2021, at a growth rate of 44%, Al Mal Newspaper reported.

Meanwhile, the total value of installments rose by 18.5% to EGP 47.5 billion.

This came on the sidelines of the annual conference for the FRA on its strategy for 2022.

The total value of mortgage finance reached EGP 8.1 billion in 2021, at a growth rate of 138.2%.

Moreover, the finance lease contract grew by 35.5% to EGP 79.8 billion in 2021.

The FRA also stressed that more than 3.5 million individuals have benefited from the small- and medium-sized and microfinance projects.

On the other hand, Chairman of the FRA Mohamed Omran expected that the shares of two new companies will be floated on the Egyptian Exchange (EGX) in the fourth quarter (Q4) of 2021, including a company operating in the payment solutions sector.

Additionally, the FRA has approved for the Commercial International Bank - Egypt (CIB) (COMI) to issue green bonds at a value of $100 million, making it the first bank to issue green bonds in the private sector.

It is worth noting that some of the provisions of the Egyptian securities market have been amended, with the aim of setting a mechanism for future financial rights to the Cabinet.

arabfinance


Categories : banking

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