Prime Minister Hashem Qandil announced last month his government’s intention to issue one or two rounds of sukuk, a type of Islamic financial product, before the end of 2012. He offered few particulars, but the reaction of the business community has been largely positive, and the Egyptian government is now occupied with fleshing out the details of the proposal.
Qandil’s Freedom and Justice Party (FJP) is meeting this week with representatives of the financial industry and other political parties to discuss the establishment of rules governing the issuance of sukuk………………………………………..Full Article: Source