Egypt Considers Sukuk to Redress Budget DeficitSource: www.export-egypt.com 11/5/2012, Location: Africa |
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Investment Minister Osama Saleh said on 4/11/2012 that the government considers issuing Islamic bonds (Sukuk) for the first time in Egypt to redress the budget deficit, adding a group was formed including members of the ministries of investments and finance and the Central Bank of Egypt to set Sukuk legal structure. The minister noted that the ministry is currently preparing to inaugurate projects affiliated to the public sector in different fields such as al-Nahda cement project and tobacco industrial complex with EGP5.5bn investments.
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