ALC Advises on Egypt’s First Moveable-Assets and Receivables Fund – Backed by Mortgage Finance portfolio
October 16, 2025ALC- Alieldean Weshahi & Partners proudly announces its role as legal counsel to Nawy and Misr Financial Investments Company (MFIC) — the asset management arm of Synergy Capital — in the successful closing of Egypt’s and the Middle East’s first-ever moveable-assets and receivables fund-backed by mortgage finance portfolio, with a total value of EGP 443 million.
The landmark transaction marks a historic milestone for Egypt’s capital markets, introducing the country’s first Fund, titled “Misr for Financial Investments – First Issuance Fund,” that pools together Shariah-compliant home-financing contracts (Ijarah or lease-to-own agreements) and converts them into transferable investment units, allowing investors to gain exposure to real estate–backed fixed-income returns.
This transaction aligns closely with the Financial Regulatory Authority’s (FRA) latest framework for moveable assets funds, which aims to enhance market liquidity and broaden investor participation in real estate–backed securities.
Banque Misr acted as custodian on the transaction, while Misr Insurance for Property & Casualty provided insurance coverage.
ALC’s transaction team was led by Dr. Bahaa Alieldean, Senior Partner, with Mr. Mahmoud El Araby, Partner & Head of Capital Market, Loay Khaled, Associate, and Mariam Romana, Junior Associate.
Since its establishment, ALC- Alieldean Weshahi & Partners has been at the forefront of Egypt’s capital market innovation, consistently advising on first-of-their-kind transactions, including:
2005: Egypt’s first securitization (consumer finance)
2007: Egypt’s first leasing securitization
2013: Egypt’s first real estate securitization
2020: Egypt’s first Sukuk (Mudaraba) for consumer finance
2022: Egypt’s first real estate Sukuk (Musharaka)
2025: Egypt’s first microfinance and SMEs Sukuk (Mudaraba)
These landmark deals underscore ALC’s position as Egypt’s leading law firm in capital markets and structured finance, continuously advising on transactions that shape the country’s non-bank financial landscape and support the evolution of its regulatory and investment frameworks.