03.01.2013 - Shura Council rejects Islamic bonds
The Shura Councilís financial and economic affairs committee has endorsed the Islamic Research Academyís rejection of the Finance Ministry's proposal for Islamic bonds. Al-Azharís body had rejected the bill during an urgent meeting late Tuesday held by Al-Azhar Grand Sheikh Ahmed al-Tayyeb, on the grounds that it "violates Islamic Sharia and endangers the state's sovereignty." Academy member and former Grand Mufti Nasr Farid Wasel told Al-Masry Al-Youm that the bill would allow foreigners to own Islamic bonds and shares in local factories and businesses...............................................Full Article: Source
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