Latest in Tag: Sukuk Highlight
Latest in Tag: Sukuk
Sukuk to be used as source of funding for development projects, he said
New law will be sent to the Council of Senior Scholars at Al-Azhar for review as outlined in the recently adopted Constitution
Upper house modifies 13 articles
The president of EFSA called for the current sukuk law to be amended, as it does not adequately punish those who would launder money using sukuk
The economic take-off program will be applied ‘whether the IMF comes or not’, says the ministry
During its meeting on Tuesday, the economic committee at the Shura Council continued deliberating the sukuk bill as it discussed the technical aspects of the project law
‘World Finance’ awards Egypt ‘Best Water Project, Middle East & Africa’ award
President Mohmed Morsi made a television appearance yesterday with TV host Amr El-Leithy where he discussed new massive national projects, controversy about usury from the proposed IMF loan and average Egyptian’s minimum wage.
Sukuk is expected to finance needed investments, says official
The word ‘Islamic’ was removed from the new law
Egypt hosting the summit reflects confidence in the country’s economic future, said keynote speaker and minister of finance, Al-Morsi Hegazy
New draft law for sukuk aims to help the Egyptian economy recover and generate more investment
What is the different between Sukuk and bonds?
The sovereign sukuk law released by the government is intended to organise the financing of the government, state budget, national projects and public institutions.
Draft law only regulates sukuk issued by companies and legal persons
Islamic political parties push for the Sukuk law
Members of prominent Islamist parties are set to meet with Minister of Investment Ossama Saleh next Monday to discuss the possibility of introducing Islamic debt guidelines. “This meeting is mainly to coordinate between political parties and the government to come up with a coherent legal framework in order to issue sukuk [Islamic bonds] in Egypt,” …
The Ministry of Finance has reported it will issue an additional EGP one billion in Floating Rate Notes (FRNs) by the beginning of October. FRNs are bonds with a variable interest rate that changes every six months and is tied to a certain money-market index. According to experts, FRNs provide protection to investors against drops …
By Hend El-Behary The Ministry of Finance has received offers equating to EGP 2.5 billion for the first Floating-Rate Note (FRN) ever issued in Egypt. The move comes in the context of the ministry’s strategy to diversify public debt instruments, according the ministry’s press release. FRN are bonds with a variable interest rate. The adjustments …
The demand for Islamic Sukuk is expected to reach to $900 billion by 2017, according to Ernst & Young’s Global Islamic Banking of Excellence (GIBE) estimates. Ernst & Young’s GIBE reports that the forecasted exponential increase in demand for Sukuk stems from the growth of Islamic banking industry, and the increasing demand for financial tools …