07.06.2011 - Egypt introduces new 'Sukuk' law to attract Gulf investors
Egypt will issue its first Islamic debt guidelines and amend its capital market law in a drive to spur Arab investment and open itself to investment from the Persian Gulf and Southeast Asia. The move will allow oil-rich countries to invest in the roughly 180 companies listed on the Egyptian stock market. The Board of Directors for the Egyptian Financial Supervisory Authority (EFSA) has issued today its initial approval of the amendment proposal to the Capital Market Law No. 95 of 1992 that involves issuance and organising Islamic Bonds [sukuk], says a statement published by the financial watchdog.............................................Full Article: Source
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