Egypt approves law to issue sovereign Islamic bonds
Published Wednesday 16/01/2013 15:58
CAIRO (Reuters) -- The Egyptian government has approved a draft law allowing the issuance of sovereign Islamic bonds, Finance Minister Al-Mursi Al-Sayed Hegazy said on Wednesday.
The Islamist-led Egyptian administration had amended the original draft of the law following criticism from religious scholars.
"The cabinet today agreed to the draft sukuk law," Hegazy said during a news conference.
The legislation still needs to be approved by parliament.