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Egypt’s nod to Islamic finance to attract investments: stock exchange chief

Posted on 03 May 2013

The passing of a new law that would legalize Islamic bonds by Egypt’s upper house a day ago could trigger an investment windfall for the highly indebted country, the chairman of Egypt’s stock exchange said. Mohammed Omran said the underdeveloped bond market at the Nile would get a boost by the new law which increases certainty for foreign investors.
“The share of financing based on capital markets increased to 25 percent last year from 10 percent in 2005, but 75 percent of financing is still provided from loans granted by banks,” said Omran………………………………………..Full Article: Source

 
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