18 March 2013

Egypt: Shura Council Tackles Sukuk Bill

The Shura Council under Dr. Ahmed Fahmy agreed on Sunday 17/3/2013 the Sukuk (Islamic bonds) bill.

The meeting stirred a new showdown between the Freedom and Justice Party and the Salafi Al Nour Party during the Shura Council's debates as Al Nour Party insisted on referring Sukuk bill to Al Azhar's senior ulemas body.

Salafi Al-Nour Party MP and head of its parliamentary bloc Abdullah Badran called for amending the bill's title to "Islamic Sukuk."

Meantime, an official source at Al Azhar said the senior ulems and Islamic Research Academy would discuss the Sukuk bill if it was referred to them by the Shura Council.

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