We are considering issuing green bonds and local sukuk within the framework of the strategy to reduce the debt rate and burdens.

• Benefiting from the expertise and experience of the Islamic Corporation for the Development of the Private Sector in developing the process of issuing sukuk.

• We are working to regain investor confidence within an integrated economic reform system.
• The new package of tax reforms includes simplified practical solutions to many challenges.
• Facilitating tax transactions for service providers, freelancers and the entire business community.
• Facilitating executive procedures for MSME taxes.

Chief Executive Officer, International Islamic Trade Finance Corporation (ITFC):

• We are keen to cooperate with the Ministry of Finance and to Support incentive policies to achieve the performance of the Egyptian economy.
• Academy to train exporters to export and access regional and global markets.
• IFIs trust the “creditworthiness” of the Egyptian State.
• We are witnessing concrete efforts by the Egyptian State in the path of economic reform and investment stimulation.

 

 

 

Ahmed Kouchouk, Minister of Finance, asserted that the performance indicators of the first two months of the current fiscal year's budget 2024/2025 are "good" and push economic stability efforts, pointing out that we are considering issuing green bonds and local sukuk within the framework of the strategy of reducing the rate and debt burdens of GDP, and we look forward to benefiting from the expertise and experiences of the Islamic Corporation for the Development of the Private Sector in developing the process of issuing Egyptian sukuk.

 

In his meeting with Engineer Hani Salem Sonbol, Chief Executive Officer of the Islamic Trade Finance Corporation and Acting Chief Executive Officer of the Islamic Corporation for the Development of the Private Sector, the Minister said that we support productive and export activities and agricultural development and food security projects, explaining that we are working to regain the confidence of local and foreign investors within the framework of an integrated system of economic reform. The new package of tax reforms expected to be announced during the few coming months will include simplified practical solutions to many challenges facing the tax community, including facilitating tax transactions and executive procedures for taxes for medium, small and micro companies MSME, service providers and freelancers, in order to facilitate for the business community with all its components.

 

Engineer Hani Salem Sonbol, CEO of the Islamic Trade Finance Corporation, Acting CEO of the Islamic Corporation for the Development of the Private Sector, said that we are keen to cooperate with the Ministry of Finance and support incentive policies to improve the performance of the Egyptian economy, and are also interested in supporting any export activities in the field of food security and energy, especially in light of the adoption of the construction of an academy to train exporters on export and access to regional and global markets.

 

He added that international financial institutions trust the "creditworthiness" of the Egyptian State, explaining that we are witnessing tangible efforts of the Egypt in the course of economic reform and investment stimulation.

 

He pointed out that the total amount approved by the International Islamic Trade Finance Corporation for Egypt exceeded $16.5 billion since its establishment in 2008, which was allocated to finance the supply of petroleum, its products, food commodities and other programs and projects. He pointed out that the International Islamic Trade Finance Corporation is currently working to increase cooperation with its partners in several programs such as the "Arab-African Trade Bridges" program, and the second phase of the "Aid for Trade Initiative for Arab Countries" program.