7 January 2013

Egypt: Shura Council Will Draft Sukuk Bill If Gov't Was Late

The Shura Council has not officially received yet the bill on Islamic Sukuk (bonds) from the government and would draft one if a delay was made in the government's presentation, said chairman of the council's financial committee Mohamed el-Fiqqi.

On Saturday 6/1/2012, the Finance Ministry refuted accusations by two Islamist Parties on its draft law on issuing Sukuk.

The ministry denied that the bill has loopholes that allow people to acquire state-owned property for Sukuk without confining this to usufructs as alleged by the Muslim Brotherhood"s Freedom and Justice Party and Salafist Al-Nour Party.

Ads by Google

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.