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Egypt urged to manage finances by Sharia rules

Posted on 04 July 2011

Egypt will encourage a much greater focus on Islamic finance if a leading political group gets its way, a senior Islamic party official said. Abdel Hafez El Sawy, an economist for the Freedom and Justice political party, formed by members of the Muslim Brotherhood, said all the group’s economic policies would be rooted in Sharia principles.

The use of financial instruments such as derivatives and futures, which are contracts for delivery of commodities, currencies or shares of a company, violated the teachings of Islam, he said……………………………………….Full Article: Source

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