10.01.2013 - Egypt: Islamic bonds and the new constitution
No sooner had the Egyptian constitution been adopted, than it was made clear that modifying it was possible. That is probably why even before the constitutional referendum began, President Mohamed Mursi decided to have the opposition and experts prepare a list of the articles that they believed were defective and needed revision by the legislature, then put to another referendum. Islamic bonds are to be issued by the Egyptian Finance Ministry, which according to Article 4 of the constitution needs to consult al-Azhar University, which in turn would consult Article 2, which states that the principles of Islamic law are the main source of legislation...............................................Full Article: Source
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