20.03.2013 - Egypt: Shura Council approves Islamic bond law
Parliament approved a law Tuesday allowing the issuance of Islamic bonds, slated to provide the heavily-indebted government with a new form of finance. The Shura Council voted in favor of the law passed by the government at the end of February and sent it to President Mohamed Morsy for final approval. Finance Minister Morsy Hegazy said last month that Egypt could raise around US$10 billion a year from the Islamic bond market much more than some analysts expect but added that it would take at least three months to push through necessary regulations...............................................Full Article: Source
Print