3 January 2013

Egypt: Shura Council Rejects Islamic Sukuk Bill for Violating Islamic Law

The Shura Council's (SC) economic committee has supported the decision by the Islamic Research Academy of al-Azhar rejecting the bill of the ministry of finance on Islamic Sukuk.

Member of the Shura Council Mohamed El Fiqy said the bill lacks legitimate aspects.

At the same time, al-Azhar Grand Sheikh Ahmed el-Tayyeb referred on Wednesday 2/1/2013 anew draft law over Islamic Sukuks (bonds) to al-Azhar's Senior Scholars Council (ASSC) to give say on the proposed bill.

Earlier in the day, Tayyeb has received a response from the Finance Ministry over a previous bill presented to the al-Azhar's Council.

Copyright © 2013 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 publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.