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Islamic Finance Briefing - Categorized | Banking, Compliance, Tax, Legal, Regulatory, Market Moves more

Egypt eyes more Islamic banking

Posted on 12 June 2012

Egyptian Parliament is drafting amendments to the Central Bank of Egypt (CBE) law, including the creation of an interbank market for Islamic banks, Al Mal reported, citing Mohamed Gouda, a member of the Freedom and Justice Party’s economic committee, according to Bloomberg.
The regulations will aim at increasing the market share of Islamic banks to 35 per cent in five years, compared with 4 per cent now, the Cairo-based newspaper cited Gouda as saying………………………………………..Full Article: Source

 
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