08.01.2013 - Egypt: Sukuk unleashed
At the end of 2012, the Egyptian economy is in a shambles, having worsened considerably over recent months. With a budget deficit expected to reach some LE200 billion and dwindling foreign reserves of $15 billion, the government is exploring all the options available to bridge the financing gap, including a $4.8 billion IMF loan that is currently on hold. One such option is the issuing of sukuk, or Sharia-compliant Islamic bonds, and the country's Islamist forces have been throwing their weight behind the issuing of these bonds, claiming that they offer the country a way out of its economic plight...............................................Full Article: Source
Print