Sarwa Capital, the investment arm of the Contact Holding Group, has signed a cooperation agreement with the Islamic Development Bank (IsDB) with the aim of developing the sukuk market in Egypt.
Ayman El-Sawy, the managing director of Sarwa Capital, told Daily News Egypt that the IsDB aims, through the agreement, to develop the financing market, especially sukuk, to increase the volume of issuances, especially the dollar-denominated ones.
El-Sawy added that the company seeks to develop the market for financing tools, especially sukuk, and some types of funds that are particularly attractive due to their compatibility with Islamic Sharia.
He added that the company plays an important role in expanding the base of investors locally and internationally to invest in the financing instruments market in general.
The signing ceremony came on the sidelines of the IsDB Group Private Sector Forum 2022 in Sharm El Sheikh.