Egypt State Information Service (Cairo)

Egypt: Nation Considers Sukuk to Redress Budget Deficit

5 November 2012

Investment Minister Osama Saleh said on Sunday4/11/2012 that the government considers issuing Islamic bonds (Sukuk) to redress the state budget deficit for the first time in Egypt, adding a work group was formed including ministries of investments and finance and the Central Bank of Egypt to set Sukuk legal structure.

The minister noted that the ministry is currently preparing to inaugurate projects affiliated to the public sector in different fields in Upper Egypt as al-Nahda cement project and tobacco industrial complex with LE5.5 bn investments.

  • Comment

Copyright © 2012 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica aggregates and indexes content from over 130 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.

Comments Post a comment