Much hype was made on the new introduction of Islamic bonds (sukuk) to Egypt. Members of the ruling Freedom and Justice Party have marketed the concept as a possible savior for the Egyptian economy. Economists were more cautious than optimistic about the benefits of Islamic bonds.
Galal Amin, a veteran and renowned economist explained he was worried that the new financial tool would allow for the sale of public enterprises at their lowest value (through sukuk) to foreigners, who would consider this a gateway to help them pull out of their respective economic downturns………………………………………..Full Article: Source