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«Sukuk Conference»: 20 billion pounds of mortgage financing at the end of this year

The Deputy Minister of Housing for National Projects, Eng. Khaled Abbas, said the real estate market has expanded considerably in recent years, which requires the search for new financing instruments, especially in the light of the huge projects being carried out by the ministry, including 20 new cities under construction. Ranging from 300 to 400 billion pounds over the next four years.

He said in his speech to the conference "Sukuk and new financing instruments … who takes the initiative?" It is important that the first Sukuk sukuk is successful to achieve a positive result, revealing that by the end of this year the The size of mortgage financing will be up to £ 20 billion, The Central Bank has fully provided this initiative.

Mohsen Adel, CEO of GIA, stressed the importance of the government's first sukuk problem to pave the way for the following issues.

Khalid Abdel Rahman, adviser to the Finance Minister for the capital market, stressed that there is currently no question of a tax increase, but efforts are being made to increase the efficiency of tax collection, expanding the circle of financiers and reducing tax evasion. The activation of Sukuk as a financial instrument contributed to the time needed to study the experiences of the countries that rely on it as an important financial instrument.

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