| A debate on Wednesday hosted by the American University in Cairo on the Egyptian government's issuance of Islamic bonds – or sukuk – pitted supporters of controversial draft legislation permitting sukuk against its opponents.
The law was approved by the Shura Council (the upper house of Egypt's parliament, currently endowed with legislative powers) in what was meant to be a decisive vote on 19 March. The step was taken, however, without the endorsement of Al-Azhar, Egypt's highest Islamic authority, in an alleged violation of the country's new constitution. The law, therefore, remains until now in a legal limbo...............................................Full Article: Source
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