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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Market Moves more

Egypt’s Islamists plan to close budget gap with sukuk

Posted on 06 May 2011

Egypt’s Freedom and Justice Party, set up by the Muslim Brotherhood to run in this year’s parliamentary election, is proposing the government sell Islamic bonds for the first time.

“There’s a high percentage of the Egyptian people that has reservations about charging interest,” Ashraf Badr el Din, a member of the Brotherhood committee that wrote the party’s economic platform, said in an interview from Cairo on May 2. “Having this tool for financing will encourage these people to invest their money.”………………………………………Full Article: Source

 
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