The Islamic Finance Gateway Community held a session with Dr. Walid Hegazy, a Managing Partner of Cairo-based Hegazy & Associates, about the Egyptian Sukuk law which was approved by the Egyptian Shura Council on Tuesday, March 19, 2013. The bill which will become a law upon President Morsi’s signing includes several key limitations on the assets that can be used for Sukuk issuance.
Dr. Hegazy noted several key implications of the new law and highlighted several areas where the law was improved during extensive debates over the eight-month process for drafting the law and proceeding through the legislative process in the Shura Council.
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