by Mostafa Adel
Cairo – Mubasher: Egypt targets to adopt sovereign sukuk law (Islamic bonds) in the second half of 2016, said the Deputy Minister for Finance, Mohamed Meit.
“The law draft will be reviewed by the Parliament after establishing internal committees and voting on the government strategy for the coming year”, Meit said.
In his talk over expected financials from Sukuk, he said the Ministry of Finance has not determined yet either the value or targeted startups.
By definition, “sukuk is an Islamic financial certificate, similar to a bond in Western finance, that complies with Sharia, Islamic religious law”, according to Investopedia.
