MFIC Ijarah fund closes EGP 633m second issuance
The fixed-income vehicle finances mortgage receivables originated by Nawy Now in Egypt.
MFIC and Nawy Now announced on 2 September 2026 that the second issuance of the Ijarah fixed-income fund had closed at EGP 633 million. Institutional investors and non-profit organisations subscribed, broadening participation in the mortgage-receivables programme.
The closed-end structure uses a lease-to-own model and is managed by Misr for Financial Investments, Synergy Capital’s asset-management arm. The new issuance follows EGP 443 million raised in October 2025 and takes cumulative programme proceeds above EGP 1 billion. Quarterly distributions for the second issuance were scheduled to begin in September 2026.
Use of funds
Real-estate mortgage receivables originated by Nawy Now