Seventeen PPP projects to be financed using sukuk: Panel

Panelists at the 2nd Annual PPP Investment Summit called the new sukuk law ‘quantum leap’ towards introducing Sharia-compliant products to the Egyptian market. It was confirmed at the Summit that seventeen upcoming Public Private Partnership (PPP) projects will be financed using sukuk. The Ministry of Finance is considering using sukuk to finance a number of PPP projects including silos projects, developing roads, and the Ain Shams -10th of Ramadan city train line in order to link the industrial sites along the way. However, panelists explained that infrastructure projects require more than one method of financing and that there are various Islamic financing methods available.