IslamicFinance.de

Egypt’s Islamist government is making preparations for the country’s first sovereign sukuk after the cabinet of ministers approved the new draft sukuk bill on January 16. The new finance minister, El-Morsi Hegazy, reportedly plans the law might ultimately raise an additional $10 billion for the sovereign. Investors, however, do not yet sound convinced, since there might be another revolution to come. Nevertheless, Egypt has considerable potential as an Islamic finance market.