Thursday, April 11, 2013

Corporate—not sovereign—sukuk will help Egypt’s economy the most

The Egyptian economy is paralyzed by the lack of an agreement with the IMF and the political power struggle over the sukuk bill is not helping anything.  Best scrap the sovereign sukuk law for now and focus on enabling companies to issue sukuk once the foreign exchange crisis ends.  

UPDATE (via @Reuters): "Egypt's top religious authority approves law to issue islamic bonds"

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