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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Compliance, Tax, Legal, Regulatory, Market Moves more

Sukuk it and see

Posted on 22 April 2013

“Laws are like sausages,” remarked Prussia’s “Iron Chancellor”, Otto von Bismarck; it is best not to ask what compromises go into them. The Muslim Brotherhood, which controls both Egypt’s presidency and its acting legislature (the creation of a full parliament awaits a new electoral law and elections), has been trying to design what might be called pork-free legislation, in accordance with Islamic sharia. But it is meeting resistance from an unexpected quarter, fellow Islamists.
Egypt’s economy is sinking, and its government desperately needs finance. The Brothers are not only keen to show constituents that they are doing something to stem the slide, but that they are putting a more “Islamic” stamp on the country………………………………………..Full Article: Source

 
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