Egyptian senate approves sovereign bonds law (sukuk) in principle ...Egypt

EGYPT INDEPENDENT - Economy

Egypt’s parliament on Monday approved in principle a draft law submitted by the government regarding the issuance of a sovereign sukuk (bonds) law, the Youm7 website reported. Senators welcomed bill with open arms, stating that it will help bring in unconventional investments and preserve the state’s right to ownership of assets and the rights of investors all while complying with Islamic law. Parliament member Bassem al-Khawasi however announced his rejection of the bill due to several concerns, including that segments of the beneficiaries of the sukuk may be foreigners whose affiliation is not guaranteed. He also warned of the risk of corruption since these form of bonds are unclear as to

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Last updated : 17 May 2021 clock 05:01 PM

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Egyptian senate approves sovereign bonds law (sukuk) in principle ...Egypt

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