RIYADH: The Egyptian Financial Regulatory Authority is seeking to issue green bonds worth $400 million before the end of this year. FRA has filed an application to form special purpose acquisition companies, also known as SPACs, with an acquisition size of between $54 million and $81 million, Mohamed Omran, the Egypt’s FRA’s head, told CNBC Arabia. In the interview, Omarn added regarding the recent decline in the value of the Egyptian pound, the authority is watching the repercussions. If necessary, it will be addressed. With regard to Abu Dhabi’s first offer to buy a share of the financial group Hermes, he said that the authority is currently studying the file to give its opinion. On the other hand, Omran expected that the volume of securitization would double in the short term and that financing through future financial rights would increase compared to current financial rights, after some recent amendments.