| Is the International Monetary Fund loan permissible under Islamic law? Egypt’s Islamist movements have signaled that this is the case and have gone out of their way to endorse the $4.8 billion package despite more than a year of lobbying that aimed to do the opposite.
But their change of heart has been met with skepticism. Is this loan being structured as sharia-compliant despite the IMF disbursing conventional loans to Islamic countries such as Pakistan? Is Egypt’s government trying to mollify citizens who view the IMF as having a reputation for imposing strict austerity measures? Is this essentially just a move to get voters on side?..............................................Full Article: Source
|