| The Shura Council approved in late March a law allowing the issuance of sukuk, or Islamic bonds, which the heavily indebted government touts as a financial tool that can support the ailing economy.
Despite creating a stir for what some claim is essentially allowing vital state assets to be rented or mortgaged by foreigners, as well as drawing criticism from Al-Azhar for being non-compliant with Sharia, the law was pushed through by the Shura Council and is now pending ratification by President Mohamed Morsy...............................................Full Article: Source
|