Arab Finance: Aman Holding, a 76%-owned portfolio company of Raya Holding for Financial Investments, has received approval from the Financial Regulatory Authority (FRA) to establish Aman Sukuk, as per a disclosure.
The newly incorporated company has an issued capital of EGP 10 million, in which Raya Holding holds a 0.2% ownership stake.
The establishment of Aman Sukuk comes as part of Aman Holding’s expansion in fintech activities, subject to the completion of the remaining legal and regulatory procedures.
Aman Holding operates as part of Raya Holding’s financial services portfolio, and the new company is expected to support the group’s plans to broaden its activities in non-banking financial services through sukuk issuance and related financing solutions.