The Egyptian Financial Supervisory Authority has said it is drafting a new law that would allow the use of sukuk, or Islamic bonds, in financing private-sector activities. The Finance Ministry is preparing a similar law for public-sector finance, the authority said.
The authority, which supervises the non-banking sector, said the new draft includes 30 articles regulating the issuance and trading of sukuk, and expanding the scope of activities that can be financed by Islamic bonds………………………………………..Full Article: Source