LE CAIRE. 3,5% Bond of L.E.100, specimen. blue, yellow, black. Folds. Large format with text entirely in Arabic (front) but translated in French on the back. After the 1952 revolution, Egyptian King Farouk was forced to abdicate in support of his son Fuad. He could not hold on to power either as in June 1953, Egypt became a republic. In 1954 Nasser took power and became President in 1956. During those turmoil years, Egypt issued a large loan secured on the revenue of cotton. This specimen bond is the first physical evidence we see of this loan. This is a 'royal' loan dated 1952 and with repayment in 1955, or, if drawn (lottery scheme for early repayment), a year earlier.
Themes: CITY & STATE BONDS, TEXTILE
Startprice: € 100