The first issuance of sovereign sukuks worth USD 1.5 billion through the Egyptian Financial Company for Sovereign taskeek, wholly owned by the Ministry of Finance, on February 28, 2023, is considered a first step on the right path, and it is necessary to be followed by other successive steps for other issuances. The subscription value for the offering reached approximately USD 6.1 billion, with a coverage rate of over four times. The Finance Minister, Dr. Mohamed Maait, pointed out that the issuance cost was lower than the required yield on bonds in international secondary markets by over seventy basis points. Since the yield rate on the offering was reduced by around 72.5 basis points compared to the initial prices announced at the beginning of the offering process at level 11.675%, closing the issuance pricing at 10.875%. The issuance witnessed significant demand, with over 250 investors from various global financial markets submitting purchase requests. This issuance attracted a new base of investors from Gulf countries and East Asia, in addition to European countries and the United States. The quality of investors in the sukuk offering was of high quality, represented by asset managers, pension funds, insurance and investment funds, and banks, who are distinguished by their long-term retention of investments, which has a positive impact in reducing price fluctuations. This issuance comes with an international program for sovereign sukuk issuances over the coming years, with a value of $5 billion, which has been registered on the London Stock Exchange on February 14, 2023. The sukuk has been listed on global stock exchanges through the Egyptian Financial Company for Sovereign taskeek.