House of Representatives Approves Sukuk Law

Giving More to Your Wealth
29 Jun 2021

Egypt’s House of Representatives (Parliament) has given its final approval for the government’s draft sukuk law. The law grants the government the right to issue sovereign sukuk. The sukuk can have a maximum term of thirty years, but can be reinstated indefinitely. The government’s foray into new debt instruments is aimed at diversifying its sources of financing while attracting new types of investors.

Further details can be found in our news entry on 7 June 2021, which was posted when the House of Representatives approved the draft law in principle. (Source: Egypt Today (English), Zawya (English), Zawya, al-Youm al-Saabe, Sada el-Balad, al-Shurouk)

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