Cairo – Mubasher: Egypt’s finance ministry said it is working on finalising amendments to Sukuk law that will provide the country with a new means of financing.

In its financial statement for state budget in 2015/2016, the ministry added that Islamic bonds, of Sukuk, would help diversify financing tools and expand investor base, in addition to securing foreign currency for infrastructure projects.

The government-held Sukuk accounts for 67% of the world’s Sukuk market, the ministry said, adding that it surveyed the opinions of international experts to set an integrated legislative framework for Sukuk issuance.

Meanwhile, Investment Minister Ashraf Salman said earlier the government would issue Sukuk law in early July.