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Islamic Finance Briefing - Categorized | Bonds (Sukuk), People more

Islamic bonds not meaning privatization: Egypt’s finance minister

Posted on 04 March 2013

Egyptian Finance Minister al-Morsi Hegazy said Sunday that the sukuk (Islamic-sanctioned bonds) project is a new funding window for Egypt and it is not an alternative for another funding tool or method.
At a press conference at the ministry’s headquarters in Cairo, Hegazy said “sukuk project does not mean privatization”, explaining that it starts as something private then it turns into public ownership. “Egypt is for Egyptians and its soil is not a matter of mortgage of selling,” the minister said in response to claims that sukuk would allow foreigners to own key state properties………………………………………..Full Article: Source

 
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